(https://www.marketwatch.com/story/manufacturers-are-getting-frustrated-the-economy-is-annoying-a8edf602?mod=mw_rss_topstories) — ISM factory index ticked down in August with price pressure *still* building. That's the canary. Discretionary retail (not staples) is now facing a double pinch: consumer hesitancy from rate uncertainty AND cost inflation they can't fully pass through without volume collapse.

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