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US Manufacturing PMI Surges To Highest Since May 2010
Comfortably beating expectations, and in Markit's words, USA is "booming again... as data suggests that GDP should be set to rise by at least 3.0% after the 1.0% decline in the first quarter," US Manufacturing PMI printed 57.5, its highest since May 2010. Despite the "booming" economy, employment rose only very marginally and new export orders growth dropped as prices rose once again.
Does it get any better than this? Markit is exuberant...
US industry is booming again, with the flash manufacturing PMI hitting its highest for just over four yearsin June. The strong reading also rounds off the best quarter for factories for four years, adding to indications that the US economy rebounded strongly in the second quarter from the weather-related weakness seen at the start of the year.
The survey data suggest that GDP should be set to rise by at least 3.0% after the 1.0% decline in the first quarter
Manufacturing output growth picked up for the third month running to its strongest since April 2010. Moreover, the average pace of expansion in Q2 was the steepest for any quarter since the survey began in early-2007.
The Fed's "you don't need QE anymore, the economy is doing great on its own" meme is confirmed. The market seems disappointed at the 'good news' and did not react at all.
But it's not all shits and giggles:
“If there’s a weak spot it’s the near-stagnation of
exports, which raises the possibility that trade will
have acted as a drag on the economy in the second
quarter."
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We're saved!
Ummm...
Oh, yes, the markit is going to rise as stawks are pumped, bawnds are bid, and moar p/e ratio demonstrates the record-breaking val-u for the average investing member of the flock. And if you believe that, I have a package of frozen chicken "wyngs" from Tyson to sell you.
Looks like a double top to me on that chart.
And I suspect this bullshit number was mandated as an excuse for the Fed to start raising rates to help save the U.S. dollar from imploding as it's losing its global currency status fast!
Cause remember, the U.S. military might can't be paid for with worthless paper.
And the resulting inflation spike will make 10% motgage rates look tiny!
You believe this shit? For years the Japanse came out with made up numbers and look at the mess they are in. There is no penalty for lying.
Two articles posted here tells me this is another manufactured estimate & flat bold out lie.
1. http://www.zerohedge.com/news/2014-01-12/great-buyback-surge-over-corpor...
2. http://www.zerohedge.com/news/2014-06-15/cluster-central-banks-have-secr...
N'fuff said.
Blomberg's economic calendar rates this to be an unimportant report.
Fuck Yeah!!!!! i knew i Felt a Recovery!!!!! Time to go buy a HUGE SUV!!!!! LOL..
What fucking planet are these people on?!
We're Manufacturiong paper now.
Yeah, in the form of FRNs
Did everybody get a chance to buy that dip?
They're churning it now but I think this f*cker is about to roll over.
Hah, I wish I had a ham sandwich for every time I heard that over the past five years. Maybe for a short dip, but nothing of any significance.
I just wish I had a ham sandwich period. Seriously though, it looks like the micromanagement of index futures is getting more difficult. They're trying to lead with small caps? Everytime NQ trys to move up it's getting bitch-slapped. It's going to take some time though.
"... The survey data suggest that GDP should be set to rise by at least 3.0% after the 1.0% decline in the first quarter ..."
-2.0% according to JPM.
Weeeeeeeeeee!!!!!!! So much fun. Weeeeeeeeeee!!!!!!
Reality is euphoria often at market tops.
So did channel stuffing I presume.
(seasonally adjusted)
well, GDP does go up when inflation picks up.
"U.S. manufacturing" - what is this, oxymoron day?
manufacturing what
I do feel something "big", but it is not very pleasant and I could do without it.
Does anyone believe these steaming piles of statistical crap anymore? The market didn't. When did "surveys" become reliable indicators of anything? The government lies, their proxies lie, might as well print at 95.
Seasonally adjusted. So pure bullshit.
"US Manufacturing PMI printed 57.5, its highest since May 2010"
Yep it's all about PRINTING. Fiat information.
Enough of this fake numbers shit! can these fuckers just get out of the way and let this turd of an economey flush and go down the shitter? At least then we can start to rebuild and look up. As it is now its a neverending shit show with no upside
I don't know that things are Booming. In just the last two weeks, two houses on our street were foreclosed. The bank is fixing up one of them, the other one is boarded up.
"US industry is booming again"
Thank heavens. Now all those negative posters on ZH can just be quiet and go home. The nation thanks them for their vigilance, but naysayers should respect the new situation and not continue to belabor any points.
Ok, I apologize for a certain amount of irony in the above post. However, I was a blue collar factory worker for 25 years and I keep in contact with old buddies. Neither they nor I are seeing new factories being built. Neither are we seeing new technology brought into current factories to lift productivity.
All we are seeing is old factory workers working harder and harder for their old paychecks and current hires screwed with a two-tier wage system that condemns them to a life of second-class existence.
Spot on. The Centralization & Consolidation of the "Free Markets" has taken place. The "Economies of Scale" have truly turned Fasciast.
The Global Criminal Cabal Bankster Inelligence Religious Crime Syndicate is close to completion. (NWO).
I've added Religious to the description as of late. Especially after the Jesuit trained Pope comments yesterday.
People don't need to be working at a time like this.
Hell, i'm all in on this wonderful buy signal. The market relentlessly marches up on no news, lame news and even bad news. Now we have positive developments on multiple economic fronts. Surely the indices will rocket favorably on todays 3% gdp speculation and housing data, no? no?
Oops i forgot, we're experiencing the new normal where up is down, bad is good, down is good and up is bad.
Where's the non-seasonally adjusted number? Oh that's right, they're not allowed to print the truth.
Its a survey, is seasonally adjusted, will be revised. Manufacturing represents 9% of another number that has been changed so many times in the past (GDP) as to make it almost as unreliable as a survey. At this point it seems our best product, the thing we (gov, msm, paper pushers in general) manufacture the most is spin. Until this changes its all just noise and propaganda.