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Commentary from the purchasing manager index on manufacturing released by the ISM, which showed that prices rose at their fastest rate since mid-2022 even though factory activity contracted: “Customers are pulling in orders due to anxiety about continued tariffs and pricing pressures.” “Business condition is deteriorating at a fast pace. Tariffs and economic uncertainty are making the current business environment challenging.” “New order levels have increased and are better than expected. We suspect that our customers are trying to build inventory at current prices to get ahead of expected tariff and related cost increases. We expect this surge in demand to be short-lived.” "Overall concern is whether or not demand destruction will occur with higher pricing.”

NickTimiraos ↗