US PMI Drops, Misses By Most In 8 Months

Tyler Durden's picture

That February spike that was the catalyst for oh so much aggressive JPY selling and US equity buying and "see, we told you so, here comes the post-weather pent-up-demand exuberance" has been crushed by the sad and painful truth of reality. For the 2nd month in a row, Markit's US PMI dropped and missed expectations... despite weather being a thing of the past. Sadly the story gets worse, as Markit notes "on the inflation front, manufacturers experienced a
further solid increase in average cost burdens in April," adding that pricing pressures, "will feed fears that the
recovery remains on a weak foundation of intense price competition
." Need moar snow...

 

 

And the full breakdown...

 

Source: MarkitEconomics