Summary: ISM purchasing managers index (PMI) slightly lower; below consensus expectation; indicates “strong sector expansion and U.S. economic growth”; supply squeeze may have peaked; implies US economy still growing at rapid pace. US purchasing managers' index (PMI) readings reached a cyclical peak in September 2017. They then started a downtrend which ended in March 2020 with a contraction in US manufacturing which lasted until June 2020. Subsequent month’s readings...