May ISM manufacturing was reported at 53.2, a three-month low.
But on Twitter, research firm Stone McCarthy said it believes ISM used the wrong seasonal results, and as a result, the headline May ISM reading is incorrect.
We believe ISM used April's seasonals, not May's. ISM headline # should be 55.4, NOT 53.2! #eco #economy
- Stone & McCarthy (@StoneMcCarthy) June 2, 2014
We've reached out to ISM for comment, and this post will be updated as we learn more.