This page has been archived and commenting is disabled.
US Manufacturing PMI 'Survey' Defies Every Hard Data Print In Last 7 Weeks, Jumps To 5-Month Highs
Markit just issued the results of their Manufacturing PMI survey... and it shows everything is awesome again. Printing at 55.3 - the highest since October 2014 - it is utterly incredulous that this represents any reality as US macro data has completely collapsed in the last 2 months. Exports are down for the first time since November, but Markit is very excited, pitching deflation as good and careful to not be too sanguine about the rise for fear of sparking some Fed action...
Spot The Odd One Out...
"While economic growth looks set to disappoint again in the first quarter, with GDP set to rise by a rate perhaps slightly below the 2.2% expansion seen in the fourth quarter of last year, the upturn in order books in particular gives some reassurance that the pace of economic growth is likely to pick up as we move towards the summer.
But the punchline is...
“However, the rate of expansion in manufacturing clearly remains well below the peaks seen last year, which is largely the result of exporters struggling in the face of a strong dollar. The March survey showed exports dropping for the first since November.
And deflation as good
“But the appreciation of the dollar is not all bad news. The greenback’s strength is lowering import prices, which in turned helped drive down manufacturing costs at one of the fastest rates since mid-2012. Lower inflationary pressures should help keep interest rates low for longer.”
* * *
»
- 7537 reads
- Printer-friendly version
- Send to friend
- advertisements -
Sharp divergence this time last year. Gets a 'meh'.
US Macro and Dollar Vortex meets 2015 Hopium
Of course the U.S. PMI is going to surge because the China PMI last night took a shit. The FED needed to offset the poor PMI reading from China, duuuhhh!!
But there is no Markit
Ah, seasonal adjustments again.
The explanation is simple. We stopped outsourcing to Asia and decided to manufacture stuff in the US again. It's a renaissance of US manufacturing.
Yeah, and monkeys might fly out my butt. Party on, Wayne. Party on, Garth.
If my sales, down 30% yoy are anywhere typical of Q1 results, everyone is in for a
big surprise over the next few weeks.
I'm still profitable, but I doubt many others could say the same with that kind of drop.
Likewise. We are doing fine, but if I am going to be forced into minimum wage increases, then that will be the end of hiring anyone at that level. Margins are what they are.
I have no more overhead to cut, labor is the only thing left to prune.
Luckily I carry no stock.
One of the local marinas close to here is operated by a friend and he thinks this summer might be rough based on the number of people who are walking away from their yachts this year. They stop paying their slip fee and just leave the boat chocked up on the hard until the marina can liquidate it.
Some cheap yachts coming soon then.
you must not be in the money printing business or anywhere near Washington, DC
Audit and END the Fed. Then execute everyone who benefitted from the fraud. Nothing changes otherwise. We all know that the Fed is behind the curve (by design). Push the reset button already!!!
LOP - totally agree. This needs to happen ASAP.
BUT
What's on the other side?
What happens next?
Fed is gone but what fills the void or how do things operate going forward?
That is where the conversation needs to be if anything is going to happen.
Until then, nothing changes.
There are lies, then there are Dam lies.
Let me issue and control a nation's phony data and I care not who writes the laws.
Everytging to make the sheep keep grazing. Don't want to spook the herd.
many are increasingly unable to find grass, as per plan :-( slowly pulling up the ladder - I suppose the EBT people are still smiling, many of the rest of us are about gone
keepin' the dream alive (I've got only that line in my head at the moment - I hear Sammy Hagar singing it)
Survey says...Despite the reports of water in the lower decks, The Titanic is not sinking! None of the survey results from the lower decks were included. We shall add them next week in a revision.
Markit is the biggest bunch of ass clowns going.....seriously does anyone believe their lies?
lies - still more lies - zzzzzzzzz
OK Tyler. It's time for a new chart. We'll call it the "DIC", which will stand for "Desperation Index Chart". This will assign a value to how far the BS reports stray from the reality of hard evidence and accepted facts. It could become a valuable tool if the mathematical calculations are properly "Algored".
And who owns 'Markit'?
SNAP DEPRESSION around the corner. This is the result of extend and pretend for 8 years. China is leading the way, other BRICs are following, Europe is a basket case and the US is broke; just won't acknowledge it quite yet.
What do you call it when government agencies are handed money to cook the books?
FEE-sonably adjusted!