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ISM Employment Down, Prices Paid Highest In 20 Months, As Construction Spending Plunges.

Tyler Durden's picture




 

The headlines will exclaim ISM Manufacturing beat expectations and reached its highest level since June 2011 (and that is true) but a scratch below the surface shows what really counts. New orders rose as did Production (all good) but the Employment sub-index dropped (what with all these new orders?) and Prices Paid surged to the highest in 20 months. Interestingly New Export Orders improved - though we are unclear (given the PMIs overnight) just who they are exporting to. In other news, the housing recovery is trotting along - apart from the biggest MoM plunge in construction spending in 19 months.

ISM best in 20 months...

 

as Construction spending plunged...

 

Charts: Bloomberg

 

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Fri, 03/01/2013 - 11:17 | 3290044 spastic_colon
spastic_colon's picture

but "better than expected" as plan B is now in place - sequester, fine than we will ram better econ up their butts - Ben is furiously changing his speech for tonight in san fran

Fri, 03/01/2013 - 11:22 | 3290066 insanelysane
insanelysane's picture

But Ben routinely gives speaches saying that you can believe the numbers such as low unemployment, etc.  Don't forget, Ben has access to the Actuals, as well as, Released numbers.  Sheeple just graze.

Fri, 03/01/2013 - 11:24 | 3290073 camaro68ss
camaro68ss's picture

Its never been a better time to buy, no really, we mean it this time. hahaha

Fri, 03/01/2013 - 11:25 | 3290077 DJ Happy Ending
DJ Happy Ending's picture

Imagine being a CNBC writer or anchor and have to talk this shit up every day.

Fri, 03/01/2013 - 11:28 | 3290095 knukles
knukles's picture

Some people believe.
I mean real and truly believe.
Sycophants abound, darling.
Psychos don't know and sociopaths don't care.
Others choose to ignore and even more remain asleep
But all know deep inside that something somewhere is not well.

Fri, 03/01/2013 - 11:33 | 3290115 kridkrid
kridkrid's picture

Add a group of those too dumb to know. "people are getting out of gold and into the dollar because gold isn't backed by anything where as the dollar is backed by the fed".

Fri, 03/01/2013 - 11:30 | 3290100 insanelysane
insanelysane's picture

See my comment below on how it is far easier to work in fantasy land than it is to work in reality ville.

Fri, 03/01/2013 - 11:31 | 3290106 mckee
mckee's picture

That AND you have to sleep with Buffet!

Fri, 03/01/2013 - 11:18 | 3290050 GolfHatesMe
GolfHatesMe's picture

Kevin is doing a lot with his $0.75 - $1.0 Bil this morning

Fri, 03/01/2013 - 11:19 | 3290054 Cursive
Cursive's picture

New Orders are surging because, what with the tax increases and pending sequestration budget cuts, businesses are very optomistic about new business.

Fri, 03/01/2013 - 16:45 | 3291521 MisterMousePotato
MisterMousePotato's picture

I think Obomocoro (stuck on "o") is a real plus, too, as well as rising gas prices.

Fri, 03/01/2013 - 11:20 | 3290055 lolmao500
lolmao500's picture

Wanna keep construction spending high? Do like China, build empty cities and hire a company to destroy one part of a city while another company is hired to build the other part. It will work... because Keynesian economics and Krugman said so!

Fri, 03/01/2013 - 11:25 | 3290079 Broomer
Broomer's picture

A lot of what was built in the last stages of the real estate bubble is looking very similar to the Chinese ghost cities today.

Fri, 03/01/2013 - 14:47 | 3291103 Tijuana Donkey Show
Tijuana Donkey Show's picture

Uhhhh, Detroit?

Fri, 03/01/2013 - 11:20 | 3290057 PUD
PUD's picture

snow in winter....will seasonally adjust thank you. all is well

Fri, 03/01/2013 - 11:20 | 3290058 Everybodys All ...
Everybodys All American's picture

Who said you can't make this stuff up?

Fri, 03/01/2013 - 11:25 | 3290076 insanelysane
insanelysane's picture

See Bernie Madoff.  It is far easier to show up at the office and create ficticious accounting records than actually having to waste time dealing with reality.

Fri, 03/01/2013 - 11:21 | 3290060 SheepDog-One
SheepDog-One's picture

Huh...well all this must be why 'markets' are still right at all-time highs. 

What a farce.

Fri, 03/01/2013 - 11:21 | 3290062 Yen Cross
Yen Cross's picture

 That parabolic $ is also a big plus for exports. <sarc>

Fri, 03/01/2013 - 11:22 | 3290067 Inthemix96
Inthemix96's picture

Could it be every fucking person I speak to, nearly every fucking day is skint?  Flat out broke?  Paying more for daily fucking essentials than they ever have before?  Fuel costs rising 16.1% two fucking weeks before christmas?  Trebling of the cost of sending your kids to university?

Could it have anything to do with any of the above ministers?  What a fucking joke this shit-show has developed into, and us ordinary fuckers being crucified still DO fuck all about it?

Cunts.

Fri, 03/01/2013 - 11:32 | 3290104 Black Markets
Black Markets's picture

That's right, nobody does anything about it.

 

The real problem is that folk these days are incapable of looking out for themselves, they have grown up in a world of welfare and they expect society to provide them with the various rungs of the Maslow triangle.

 

Get a fucking grip. If you can't get by in the West then you are a fucking loser and you deserve to be poor.

Go and live in Somalia or Sudan or Antarctica and see how well you do without expecting other people to wipe your nose and sing you to sleep every night.

Virtually all Westerners are spoilt whining brats who don’t know they are born.

 

Complaining about university fee's?

When I was a lad it was two pieces of broken glass for breakfast and away down the mine for 27 hours a day.

Fri, 03/01/2013 - 11:39 | 3290141 Inthemix96
Inthemix96's picture

Who said I was complaining Black?

I know exactly what you are talking about and I think you dont get it.  Who caused this bullshit?  Are you or I directly responsible for the above situation to occur?  Is it our fault that the profligate fucking cunts who run our countries have the rest of the population on their knees?  And at the same time award themselves a 32% pay increase of OUR fucking money, is that right and just mate?

To pull us down, to keep us down, to make life hell for your average man who caused none of this shit?  You dont know what you are talking about mate, most people dont have a clue how bad this shit is, none at all.  They are to busy worrying about paying this weeks bills.

Try again.

Fri, 03/01/2013 - 11:22 | 3290068 Black Markets
Black Markets's picture

Construction is volatile. MOM data is useless.

Fri, 03/01/2013 - 11:24 | 3290074 youngman
youngman's picture

employment down...as companies move to Obamacare employment..all 39 hours and tempory...you will see a big gain in this in the future...a big gain in part time work....take it or leave it and go on SNAP.....guess what..they will go on SNAP..its easier than showing up to a job....

Fri, 03/01/2013 - 11:33 | 3290112 knukles
knukles's picture

Don't forget the SS disability, Sec8 housing and state programs, not to mention ObamaCare for which you will not pay the fine since you pay no taxes, anyhow....
Or how's that gonna work, eh?
Will the WH grant a waiver to the Free Shit Army?

Fri, 03/01/2013 - 11:25 | 3290075 Water Is Wet
Water Is Wet's picture

Yeah but CRM is up 5% after reporting a $20 million loss last night, so fucking booyah.  This was my favorite part of the report:

"For the company’s full fiscal year 2014, GAAP net loss per share is expected to be in the range of ($1.22) to ($1.18) while diluted non-GAAP EPS is expected to be in the range of $1.93 to $1.97."

Fri, 03/01/2013 - 11:26 | 3290080 Glass Seagull
Glass Seagull's picture

 

"Stock prices have reached what looks like a permanently high plateau."

Fri, 03/01/2013 - 11:27 | 3290088 Everybodys All ...
Everybodys All American's picture

The administration has been going after Bob Woodward for some straight talk on the sequestration policy signed in to law. Correct. Who's to say these bastards in the WH don't initimidate these data producers in the same way? Count me as not surprised in the least.

Fri, 03/01/2013 - 11:29 | 3290097 mdtrader
mdtrader's picture

Sterling below 1.50 Euro below 1.30 Not good for S&P earnings.

Fri, 03/01/2013 - 11:31 | 3290098 Element
Element's picture

 

 

“...We are not here to heap mountains of debt on our children, and our grandchildren. That is what was done in the last eight years in the Bush administration. This budget calls a halt to that, and says NO! Says no more debt, we’re going in the opposite direction! ..."

 

- Nancy Pelosi, Speaker of the House, April 29th 2009, right after Obama’s first 'Budget' passed

--

Keep this Pelosi quote on file bitchez, it should be recorded so that the future blind-moles of the 'electorate' may understand why communities all across the country fell apart at the seams, and never recovered again.

Community-Organiser-in-Chief indeed! What tremendous new-cloths you have on sir!

Fri, 03/01/2013 - 11:40 | 3290145 Bandit und Buster
Bandit und Buster's picture

+ 10000

“who controls the food supply controls the people;

Who controls the energy can control whole continents;

Who controls the money can control the world.”

Henry Kissinger, 1973 (as quoted by trivemovment.com)

 

"Every time we do something you tell me America will do this and will do that... I want to tell you something very clear: Don't worry about American pressure on Israel. We, the Jewish people, control America, and the Americans know it." -- Israeli Prime Minister, Ariel Sharon, October 3, 2001

 

Our leaders are not chosen for their intelligence or achievement but rather because they are able to win the peoples’ trust and are willing to betray it. They are chosen by a small satanic cult – cabalistic bankers and Freemasons – that controls the world’s finances and media. Our ‘leaders’ are junior members of this international cult, called the Order of the Illuminati.”  Henry Makow, Ph.D, “Illuminati – The cult That Hijacked the World”

 

Fri, 03/01/2013 - 11:34 | 3290119 Tsar Pointless
Tsar Pointless's picture

I was notified - by email, after I left work last night - that my full-time contract position with an engineering firm here in Pittsburgh is being cut to part-time.

This begins next week, as businesses aren't held to the same standards as are workers in this fascist hellhole. No "two-week notice" requirement - I was given two work days' notice.

So my consumer confidence has skyrocketed "smartly", as EconoPray wrote in this morning's Consumer Sentiment economic release.

http://www.econoday.com/economic-calendar.aspx

Bullshit: It baffles.

Fri, 03/01/2013 - 11:34 | 3290120 mdtrader
mdtrader's picture

Laughable ISM fixes all the ills of the world. What happens to manufacturing with a stronger dollar?

Fri, 03/01/2013 - 11:36 | 3290124 thismarketisrigged
thismarketisrigged's picture

how the fuck are all the losses basically wiped out so fast despite the fact that every fucking major economy has shown contraction?

 

 

 

urrrrrrr i want to punch these fucking assholes, i hope they all die terrible deaths. bernanke, all the fed, all of wall st, obama these guys are all fucking thieves who only care about themselves

Fri, 03/01/2013 - 11:37 | 3290135 joego1
joego1's picture

The hurricane sandy blip must of past. I hope that the price of plywood comes down now.

Fri, 03/01/2013 - 11:46 | 3290162 stormsailor
stormsailor's picture

4 horrible economic reports this morning.  bullish,  the mother forker just went green.   time to buy stalks.

 

this market is a joke

Fri, 03/01/2013 - 11:57 | 3290205 mdtrader
mdtrader's picture

So now you have got to pay more for stocks than before the rest of the world told you they are slowing down! 

Fri, 03/01/2013 - 11:59 | 3290222 QQQBall
QQQBall's picture

Here's the deal they never discusson construction. Unless its a Govt deal, the framers and carpenters are making way less than they did 10 years ago.

Fri, 03/01/2013 - 12:16 | 3290332 orangegeek
orangegeek's picture

Monthly Philly Housing Index fell 4% in February.

 

http://bullandbearmash.com/chart/monthly-philly-housing-index-breaks-sup...

 

Building vendors are slowing down.

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