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US Manufacturing PMI Plunges To 11 Month Lows, Misses By Most On Record
But what about the massive cajillion-dollar tax cut for American manufacturers from the oil-drop? US Manufacturing PMI collapsed to 53.7 in December, missing expectations of a rebound to 55.2 by the most on record and falling to its lowest since January 2014 - the middle of the Polar Vortex. This is the 4th monthly drop in a row off the mid-year "yay recovery is here" record highs and 4th miss in a row as economists continue to 'price in' the hockey-stick. The employment sub-index dropped to its lowest since July and new orders collapsed to its lowest since January. This comes on the heels of Germany's 18-month lows for its Manufacturing PMI. No decoupling after all.
As Markit noted about Germany,
“Overall, the data are consistent with only marginal GDP growth in the fourth quarter at best, with the average PMI reading in the latest three months the weakest since the second quarter of 2013. The possibility of a renewed downturn at the start of next year is clearly becoming more and more likely, especially if the survey data continue to disappoint.”
And added on USA,
“Softer output and employment numbers merely represent a cooling in the pace of expansion from unusually strong rates earlier in the year, but also send a warning light to policymakers that the fourth quarter is likely to see a weakening in the pace of economic growth, which is starting to hit hiring.
“We expect this weakening to become evident in the official data early in the new year, meaning rate setters will continue to err on the side of caution in terms of when the economy may be ready for higher interest rates, especially as the survey data also highlight a further drop in inflationary pressures.
Charts: Bloomberg
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Rising interest rates should put an end to the free-fall collapse of the US economy.
And remember boys and girls it's...
BECAUSE OBAMA!
I like ISM's numbers better. They say everything's peachy.
U.S. manufacturing, what a joke, I can't remember the last time I bought anything that was 'made in the U.S.A.'
Try these guys out. Used to be "Oneida Silverware". Only Made in USA flatware. Awesome product. Fucking sad we sold Oneida to Chinese.
http://libertytabletop.com/
Have you bought any derivatives or any other financial toxic waste? That's about all that is left.
Smith & Wesson, Kel Tek, Kahr, Ruger, Kimber and a few others
McDonalds (Made in the US except for the beef), the fees you pay on your bank account, what retailers pay to Visa, the fraud of Goldman, all of that is manufactured in the US.
I'm sure at the center of every crater in the mid-East is a fragment of metal that says "Made in the USA".
Zobra
Wwhhaa....? You mean you have not bought anything from General Dynamics or Boeing lately?
It's up.....it's down.
Make your mind up already.
Whatever you do, just don't look down.
Thats when gravity starts working on the Wil economy.
Quick! Let's smash gold and silver!
Very Nice recovery we got here lol
and the Dow goes muppet green.......
Hey Janet, the Russians went from 10% to 17%, can we go from 0% to 1% tomorrow?
Oh ok. I was wondering why we'd just gone vertical. That explains it.
BULLISH!!!
The Dear Leader Obama "recovery" continues...
All in to the market, peoples!...
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Well, if they would show this chart under the PMI heading, everything would be great!
http://research.stlouisfed.org/fred2/series/GFDEGDQ188S
US Manufacturing...that's a fucked up combination of two words if ever LOL!
The patient is dying...
http://research.stlouisfed.org/fred2/series/NAPM
Dreaming of QEIV or whatever, rude awaking happening soon
Looking at the mining stocks and the metals, one can be rest assured there is absolutely no central bank manipulation taking place...nope not a one!
My sister is a physical therapist...does this neck manipulation thing...feels great. She did mention however if you move too far in one direction, it could easily snap my neck and kill me. Manipulate until it breaks.
Blue and gray collar prosperity - NYET!
Wall St. manipuators buying another 14k solid gold cat bowl - DA!!
Feudal Frisco Purges Its Poor: http://wp.me/p2kmGE-4iA
right to plan...fire up the money printers!
Boy, I can't even take a dump any more without price of Silver getting hammered before I'm done !!!
Prune Juice cocktail. 1 Cup Prune juice, 1/3 cup Milk of Mag and some Ice Cream. It's the only way to beat the move.
I prefer Milk Of Magnesia and Vodka. It's called a pile driver.
We all know all these "surveys" are bullshit. Good number, bad number all fabricated, but Tylers, "plunging" and missing expectations by most on record is a little much. 1.5 points is a record?
We should be slowing down..the rest of the world is....and if we export anything...they are not now...Student loans do not make an economy...but they are doing well....selling a widget to Brazil does..but they just got a lot more expensive and Brazil is slowing down so they are not buying...simple Econ 101....but that no longer works
"what about the massive cajillion-dollar tax cut for American manufacturers from the oil-drop?" As ZeroHedge well knows, it is too soon for for oil price drops to show much impact as they work their way through the system.
"But what about the massive cajillion-dollar tax cut for American manufacturers from the oil-drop?"
The answer for the slowdown is obvious. Since oil and gasoline prices are dropping, consumers are sitting back and not spending money because they are waiting for oil and gasoline prices to fall further... which is ultimately bullish because it means that pool of money on the sidelines is growing larger and will soon be thrown into stawks at any minute... which is bullish...
Jonathan Gruber was called out for calling Americans stupid. I am ready for executives from MSM outlets to be caught in the act of labeling their viewers as stupid. I am confident many of them believe it.
FUBAR.
German manufacturing has taken a huge hit and like everywhere the figures are massaged. They have/had high hopes for Russia but their Occupiers wont allow them off leash. Container ships sailing down the Elbe through Hamburg to the North Sea are 33% down or 1 in 3 ships less frequent. Not long now before Meerkat and her Frenemies feel the backlash of the public. . . . and YES i spend 3 days every month in the country with Top Manufactures ( albeit the favoured SME's ) so it's first hand on the ground reality bite i offer.
DOW...This is Boeing 666 attempting a vertical climb.
Roger...good luck.
but wait, it'll be revised up, right?
Cmon Fed pull the respirator, surely she can breathe on her own?
Last quarter America's GDP came in at a strong 3.5% but the fact that a 10% jump in federal spending, mostly on Pentagon hardware bolstered growth and was very much behind the numbers.
This "pre-election" spending was the biggest increase in federal spending since 2009 when the Obama administration put in place a huge economic stimulus package.
When you mix in an upbeat November number concerning job creation, falling oil prices and ever higher stock market prices and new record highs and many people have the impression we are on a roll.
The American and world economy is in uncharted water and weird crosscurrents are clouding our economic future. The truth is if this market is as over extended and distorted as many people think a crash may occur at any time. The article below delves into some of the many crosscurrents at work that could bring the economy to an abrupt halt.
http://brucewilds.blogspot.com/2014/12/crosscurrents-cloud-future-economic.html