EVERYTHING IS GOING SWIMMINGLY: ‘The manufacturing side of the economy appears to have stalled,’ ISM says.

The industrial side of the economy is unlikely to generate sustained growth until interest rates fall and a lower cost of borrowing entices customers to buy more goods or invest.

“Companies are extremely cautious with any form of investment,” Fiore said.

At the same time, higher prices of raw materials such as oil, plastics, copper and aluminum are putting upward pressure on prices. That could keep inflation elevated.

Previously: Biden claims his economic policies are reviving manufacturing, making his case at a wind farm plant.