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December Jobs "Significantly Below 200,000", Q4 GDP Tumbles To 2%, Markit Warns
Markit's US Services PMI missed expectations of 53.7, priting at 53.3, its lowest since Feb 2014 (mid Polar Vortex). From record highs in June, PMI has plunged non-stop for six months leaving Markit noting Q4 growth is looking more like 2.0% than the 5.0% exuberance in Q3.
US Services PMI plunges...
and along with the tumble in manufacturing leaves the US Composite PMI at 14 month lows...
It gets worse. From the report, via Chris Williamson, Chief Economist at Markit said:
“The US economy lost significant growth momentum at the close of the year. Excluding the drop in activity caused by the October 2013 government shutdown, the manufacturing and service sector PMIs collectively signalled the weakest expansion since the end of 2012. This is also not just a one-month wobble: the pace of growth has now slowed for six consecutive months.
“The PMI surveys act as good leading indicators of GDP data, and suggest that the pace of US economic growth will have slowed in the fourth quarter. According to the PMIs, fourth quarter growth is looking more like 2.0% rather than the 5.0% annualised rate of expansion enjoyed in the third quarter.
“Job creation has waned alongside the slowdown, with the survey indicating that monthly payroll growth has slipped significantly below the 200,000 mark. Companies have become increasingly reluctant to take on staff due to the cloudier economic outlook, in turn linked to various factors ranging from global geopolitical concerns, worries about higher interest rates and uncertainty about rising staff healthcare costs.
“However, it’s important to note that growth is merely slowing from an unusually powerful rate rather than stalling. Lower oil and fuel prices should also help foster stronger economic growth as we move into 2015, by reducing the fuel bills of households and companies. Measured across both sectors, input costs showed the smallest rise since April 2013 in December. Lower prices will also of course provide added leeway for interest rates to remain on hold for longer.”
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If ya double up on the FRAUD you can get that number to looking good.
I'm supporting the healthcare system for others...
good...'cause the 'Flu Vortex' is going to be HUGE this year!
TWO percent!!?
Moar like negative two percent you mooks!
Bullish! It means we can PRINT moar toilet paper for the SHIT economy
so 5% to get EOY dow to 18k+ and approval rating to 47%, from here on out it will be how to make the numbers look "dis-inflationary" so as to not spook the rate increase crowd.
QE4 brewing....
Yep. For years now we've seen Zero Hedgers get excited every time there is a one-session drop of 300 points or so, only to be followed by massive vertical ramps in the following days.
The DAX, London and Paris are already surging today.
The PTB simply won't allow a market crash on the watch of the "first black President".
99% chance of QE 4.
All that's left for the Federal Reserve. Can't ever raise rates.'
Infinite insane Federal Reserve printing. That's all that's left.
Well, that and war. There's always that.
We already have the war,we are just waiting on the more dying.
Now thinking wartime, you raise rates to try to cripple your enemy's currency.
The Fed Res can't though.
You also need gold for war, strictly bring gold and carry..
But Lord Yellen said we have to be paitent
Wait until everyone figures out it's actually negative GDP, because if you factor in inflation and interest rates, it is very negative
just remove imputed rents frm the GDP and you have a negative print...
Or healthcare spending courtesy of 0zer0care.
hitlery....according to nielsons there is only 177,000 more to go, than everyone will have figured it out...
Won't Obozocare numbers make up the difference and give us another 5% for the next quarter?
Nothing like the wealth effect of having a rigid sigmoid stuck up your ass to save GDP.
Was that quote from "A Tale of Two Economies"? You know, the official one and the real one?
As Obama said while wrecking the US socially and economically, "It is a far, far nastier thing I do than I have ever done before."
Ten Yr at 1.96... did anyone bet on this?
Hehehehehehenenenehe....
"The last time the (10yr) yield traded below 2% on an intraday basis was back on Oct. 15. That day, $924 billion of U.S. Treasury bonds changed hands—the most in at least a decade—and the yield on the 10-year plunged to as low as 1.873% before recovering to close at 2.091%."
http://www.wsj.com/articles/u-s-government-bonds-continue-to-strengthen-...
http://www.bloomberg.com/news/2014-10-15/treasury-trading-volume-approac...
$924B? That's a lotta transactions. Should be an interesting day.
This must be the escape velocity the central bankers were talking about... nice
Didn't you see the memo? QE 4 is what is needed to reach escape velocity.
"If ya double up on the FRAUD"
Double up on Fraud and infinite QE.
QE 4, - Coming. James Bullard warned last year.
QE 5,
QE 6,
QE 7,
QE 8,
QE 9
The Federal Reserve wrote Japan's economic playbook. Japan is a preview for the US.
"November durable goods orders revised to -0.9% from 0.7%"
Dont think the market noticed yet...
Ten year goes to 1.75%.
The Federal Reserve is pushing it down.
Then QE 4 announced once stocks drop to an unfomfortable Bankster level.
Can't we add in hookers and blow ?
“However, it’s important to note that growth is merely slowing from an unusually powerful rate rather than stalling. Lower oil and fuel prices should also help foster stronger economic growth as we move into 2015, by reducing the fuel bills of households and companies. Measured across both sectors, input costs showed the smallest rise since April 2013 in December. Lower prices will also of course provide added leeway for interest rates to remain on hold for longer.”
Money sentence in bold.
No matter the reason, ZIRP is always in season.
Revised definition of ZIRP: Zero's Incredibly Repressive Penury.
and the Dow rallies.....
If we include drugs and hookers there were millions of jobs saved or created.
Well, McDonalds did report a bad few quarters. Must be Walmart is not hiring as much, now that they are threatened with paying over 50 cents an hour.
Iceberg, right ahead!