On Monday, the ISM Manufacturing Index was reported at 52.9, which was down from 53.5. We like the ISM Index as it gives us a monthly reading into the health of the U.S. manufacturing sector. Above 50 is expansionary and below 50 it is contracting. The report was a little weaker than expected but still showed growth. We believe it puts the economy in the 1.5% to 2% range for the quarter. The fourth quarter of 2014 grew at 2.2%. Every regional manufacturing survey declined and the index hit its lowest level in 13 months. We believe the ISM is the single best indicator of the U.S. economy.

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Market in a Minute 2015-3-3