Capitol Report: End of the Trump bump? ISM manufacturing joins host of indicators that are at lowest level since election

The Institute for Supply Management reported Friday its manufacturing purchasing managers index in February fell to the lowest level since November 2016.

It’s funny how often that date is cropping up.

The ISM index now joins other economic series falling to the lowest level since President Donald Trump surprised almost everybody with a victory, leading to expectations, in many parts realized, of tax cuts and deregulation.

But two years later, the luster appears to be fading.

• The University of Michigan’s consumer sentiment index hit Trump-era lows in January, and only inched higher in February.

• The National Federation of Independent Business — a very pro-Republican trade group — reported its small-business optimism index in January fell to the lowest level since November 2016.

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