This page has been archived and commenting is disabled.
ISM Services Surges To 4th Highest On Record (As Services PMI Plummets)
On the heels of 5 months of weakness in Services PMI, and 2 months of weakness in ISM Services, it only makes sense that ISM's Services print would massively beat expectations at 59.3 (against 57.5). All ISM subindices rose - apart from employment (which dropped to 4 months lows)! Just 15 minutes after one survey indicates a drastic slowdown in domestic demand for services, another one says it has almost never been better...
Huge beat in ISM Services...
What a difference 15 minutes makes...
Here is the full breakdown of the components: magically, and totally unlike that "other" ISM, virtually everything improved except for employment, which as we now know, has been improving purely due to lower wages, something which in an objective world would impact manufacturing survey responses, if not in a goalseeked new normal.
This is what a selection of cherrypicked responses had to say:
- "Business is good with new technology and products." (Information)
- "General uptick in demand/spending." (Finance & Insurance)
- "We are experiencing downward pricing pressures on the price of natural gas as a result of the lower energy prices being driven by OPEC’s lower oil prices." (Mining)
- "Food cost continues to be a challenge due to cost of goods increases. Beef, produce and turkey markets remain high. Chicken, pork and eggs, although year-over-year are higher; prices have fallen from one month ago." (Accommodation & Food Services)
- "Business is strong. Many new accounts want to be implemented before year-end so cost reductions can be included." (Professional, Scientific & Technical Services)
- "We are looking forward to a strong holiday season." (Retail Trade)
- "We are still seeing continued momentum month-over-month with the strongest area being government accounts." (Wholesale Trade)
Perhaps the only informative datapoint is that the saline IV solution shortage which started almost a year ago (as we reported previously) continues:
Commodities in Short Supply
- Labor (3); Medical IV Products; and Medical IV Solutions (11).
As for Labor being in short supply, that should explain why real hourly compensation was just slashed lower and Q3 business and mfg wages were revised to negative.
»
- 3593 reads
- Printer-friendly version
- Send to friend
- advertisements -
Translation: Stocks are cheap.
Exactly ... just more fodder for the Algos.
Funerals, cable installers and crazy pill suppliers?
Didn't ISM and PMI have a nearly identical head-scratching divergence on yesterday's manufacturing data?
These guys really need to "harmonize" their seasonal adjustment methods because nobody can tolerate conflicting survey data. (And FYI, I hate people who use the word "harmonize" in a business conversation. It's gotten really annoying.)
Dow to the moon! BTFATH because there are a lot more numbers higher than 17000 than there are lower
Just huff down fifty thousand twinkies(tm) and projectile vomit it all on some television reporter. See if it's newsworthy.
Or you can just scream "burn the whole city down!" and then see if anyone even cares after that in fact does happen.
It's all good folks! Just billion dollar sports stadiums and State Mandated Sex Ed. All clear sailing from here to forever!
if they handed Oscars to the most manipulated "indicator" out there, ISM would take all honors. It's as if it was a number generated by an algo to serve an algo.
Maybe Hawkins is on to something?
If I thought any of these numbers were real and unmanipulated I might care.
More MBA's needed for Supply Chain Whore Houses .
Must be hard keeping all this disinformation shit together sometimes.
Somewhere in some coffee room of the ISM Services office there is a geek thinking to himself if he did something wrong....
Yup, never been better!
Green shoots and mustard seeds!
Ignore that man behind the curtain and the flying monkeys!
10.98 for a less than two lb chuck roast. In 1971 as a bag boy at the local grocery store chuck roast was routinely on sale at .59 a lb. I knew because with 7 kids in the family i would buy some for back home at that price. 4.98 a lb at Aldis is a very good price. Minimum wage today 8 dollars an hour. After taxes you can buy one lb or so of beef. 1971 minimum wage 1.65 an hour. After taxes you can buy two lbs of beef. There is no inflation however. Good day all.
It's Barry's hope to control you and your change (currency). Control of the media to keep spewing no the inflation theme.
sorry my math off a few cents,,,, just over 2 lbs meat for 10.98 price was 4.98 lb lb.
Just curious, is one produced via a gvt agency and the other via an industry group?
I think we can all agree that every single bit of U.S. economic data is completely fabricated at this point... so better buy moar stawks!
THey can Make the McMarket rally on any and all McData, right McMurphy?
https://www.youtube.com/watch?v=NLWzSGQAnSg
In case you missed it, Biderman (Trimtabs) jousts with LameScream media types:
https://www.youtube.com/watch?v=qTFvaWquyqA&list=UU_FouojmbzN_jwBVkroDQBw
I think Biderman should be offered an honorary "ZHd".