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US Manufacturing PMI Tumbles, Biggest Miss In 14 Months
But the world has been printing such great PMIs? And the US is the new engine of global growth? So how did US Manufacturing PMI just print 56.2, 3 month lows, and its biggest miss since August 2013? Following China and Europe's lead, US is latest PMI print with collapsing New Orders (57.1, down from 59.8, lowest since January), Output, and New Export Orders. This is the biggest 2-month drop in US PMI since May 2013.
“The flash PMI provides the first available glimpse into how manufacturing is faring at the national level at the start of the fourth quarter, and presents a mixed picture. The data will no doubt add to the view that policymakers should be in no rush to raise interest rates, with output and order book growth slowing and price pressures easing.
A concern is that growth of new orders weakened sharply, which may translate into a further slowdown in coming months. The source of the slowdown appears to be weaker economic growth in key markets such as the Eurozone, China and other emerging markets, which has hit export performance. Many companies reported that domestic demand remains reassuringly strong."
So the narrative is alive - moar stimulus needed stat!!!!
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Did it snow in October?
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Bullish!
Yep, wondered why the market popped
You forgot the last two letters on that word...
You mean all those autos, lawn mowers and kitchen appliances we make aren't moving.... oh wait.... what do we manufacture again besides waste products and financial weapons of mass detruction (same thing)?
Unicorns and rainbows!
Long on unicorn pee futures and I'm looking closely at getting into the fairy fart market.....
re-elect Obama.....
1. The Federal Reserve is determined to print Hillary into leadership.
2. Why? Because she is an Alinsky-ite and New World Order Democrat. Previously, we simply called them socialists/communists and as the dollar and US economy collapses into the new world who better to lead the aftermath than a grandmotherly figure. Same reasoning Janet Yellen is in charge of the Federal Reserve right now.
record earnings and weak economic cover for the fed.............dow up 300 today?
ran out of channels to stuff....
The worse the news the more people know the Fed's QE to infinity is back. Maybe double size this time.
Print until a currency crisis.
Let's see Japan blow up first.
I've come to the conclusion that QE creates a paradoxically complex deflation and so is bad for gold. The increase in M2 will be trivial compared to the eventual deflation of asset prices and their ultimate reduction in potential monetary velocity.
I wish I understood what you wrote above, FO. No one has adequately explained the low gold prices, in my wee opinion.
Gold is FED rigged. If it was allowed to float to true value the dollar would start to look like toilet paper.
It was due to McDonald's not manufacturing quite as much goodness as forecast.
pods
Here is MOAR bullish news:
Sears to close stores, lay off about 5,500 employees: Seeking Alpha
http://finance.yahoo.com/news/sears-close-stores-lay-off-5-500-employees...
excerpt:
(Reuters) - Struggling retailer Sears Holdings Corp will lay off at least 5,457 employees and close over 100 stores, many before Christmas, according to a Seeking Alpha report citing liquidation notices and employees.
Sears shares rose 4.6 percent to $36 in premarket trading.
At least 46 Kmart stores, 30 Sears department stores and 31 Sears Auto Centers are scheduled to close before the end of January, said the report.
Sears officials were not immediately available for comment.
The company, which is struggling to reduce costs as its sales dwindle, closed 75 Kmart stores and 21 Sears stores in the first half of 2014.
Good For another 50pt rise in the market.
Eddie Lampert doesn't give a shit about what happens to Kmart/Sears. He bought it 11 years ago for pennies on the dollar (another nice insider deal that screwed the shareholders), mostly for the real estate value. The sooner the stores start closing, the sooner he can sell the properties and cash out to the tune of 20-30 billion dollars. And again the shareholders will get screwed because those properties are no longer ownded by Sears Holdings, but by some secret insurance company he set up to transfer the properties into.
Truly amazing what these rich, connected fucks can get away with.
Bullish on more corporate buybacks! To the moon Alice; to the moon!
How could PMI tumble with CAT doing so well? /s
no demand due to no jobs. no jobs due to no demand. property taxes still increase due to unions, placing further demand on household spending, thus lower demand, thus fewer jobs.
=DJIA at 20,000....
Are we supposed to get excited about a slight decrease in some statistic that is virtually impossible to measure accurately anyway? Big whoop.
I understand the desire to be the one that was first to identify a trend but all this breathless coverage of minor fluctuations in economic statistics gets old.
Per the graph you presented in the article there is almost nothing significant about this "miss" at all.
As much as I hate to root for the demise of my country, I'm doing everything I can to be sure the criminal actions of the Federal Reserve and feral Federal Government are not rewarded. Collapse this whole shit show and let's get started rebuilding this once great nation after mass prosecutions and death sentences for treason against the people of the nation.
Until then, FUCK YOU! Are you getting the message yet Washington, District of Criminals?
I was wondering why the market is up 200+ points. This explains it.
to the tune of EMI by the Sex Pistols, final frame
Unlimited supply (P.M.I)
There is no reason why (P.M.I)
I tell you it was all a frame (P.M.I)
They only did it 'cos of fame (P.M.I)
I do not need the pressure (P.M.I)
I can't stand those useless fools (P.M.I)
Unlimited supply (P.M.I)
Hello P.M.I
Goodbye
Does making credit derivatives count as manufacturing?
Or any derivatives..?