ECONODAY: Employment fell slightly and delivery times shortened, two factors that held down the July ISM index to 52.6 vs June's 53.2. But that's not the important news. The important news is the new orders index which remains extremely solid, at 56.9 and pointing to future strength for employment as well perhaps as slowing for future deliveries (slowing in deliveries is an indication of strength in demand, of congestion in the supply chain)...
