Yes. I do watch these numbers, but often do not know what to do. Good or bad, is that already baked into the stock market? That's the difficult question.
The ISM number is considered one of the leading indicators of manufacturing activities, hence important. There are other aspects of the economy though, such as tourism, retail, agriculture, etc...
By the way, an equivalent Chinese number was reported yesterday. It was a tad lower than the number during the 2008-2009 global meltdown.
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