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ISM Manufacturing Tumbles To 22-Month Lows, Longest Losing Streak Since Lehman
US Manufacturing PMI beat expectations, printing 55.7 up from 55.3 prior to its highest since Oct 2014, once again flying in the face of the collapse in US hard-data-base macro. More in line with the underlying reality, Feb Construction Spending dropped for the 3rd month of the last 4 and March ISM Manufacturing tumbled to 51.5, missing expectations of 52.5, to its lowest since May 2013. Under the covers, it is even uglier with the lowest New Orders since Jan 2014 as US Manufacturing data has missed 5 of the last 7 months and dropped for 5 months in a row - which hasn't happened since 2008.
Everything is awesome...
Everything is NOT awesome...
The leading New Orders less Inventories indicator hinting that there is much more ISM pain to come: from @Not_Jim_Cramer
Respondents do not sound unequivocally happy...
"Falling energies have helped on the cost side while sales are getting a boost through improvements in consumer disposable income." (Food, Beverage & Tobacco Products)
"Our business is still strong and on projection. Dollar strength is challenging for our international business." (Fabricated Metal Products)
"Business is still extremely strong." (Transportation Equipment)
"Oil prices impacting drilling and project activity. Pursuing cost reductions from suppliers for a wide variety of goods and services." (Petroleum & Coal Products)
"Business really starting to slow down. Oil pricing is having a major effect on energy markets." (Computer & Electronic Products)
"Steady Q1 demand but somewhat interrupted by weather." (Primary Metals)
"Operating costs are higher due to increases in healthcare premiums." (Miscellaneous Manufacturing)
"March business is improving over Jan-Feb, thawing out of this crazy winter." (Paper Products)
"Dealing with ongoing delivery issues associated with congestion at the U.S. West Coast and Vancouver ports." (Machinery)
"Congestion at the West Coast ports delaying incoming products." (Textile Mills)
And New orders crater - even more not awesome-er...
ISM falls 5 months in a row, first time since 2008 pic.twitter.com/Kdt6CgKUv3
— Not Jim Cramer (@Not_Jim_Cramer) April 1, 2015
Perhaps the only good news: the unprecedented divergence between Prices "better" and "worse" has finally closed some of its recent record gap.
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And finally...
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hopefully some day we can reference "Since Goldman's Collaspe"...someday!
Everyday is worst since Lehman from now on.
awesome times those of lehman :)
Big 3 out with march vehicle sales
GM -2.4% year over year
http://media.gm.com/content/dam/Media/gmcom/investor/2015/mar/GM-Deliver...
Ford -3.4% year over year
https://media.ford.com/content/dam/fordmedia/North%20America/US/2015/04/...
Chrysler +2% year over year
http://www.fcausllc.com/Investor/PressReleases/sales/ChryslerDocuments/F...
The two Ford dealers in my area are totally stuffed with trucks, at one they are parking them in parts of the parking lot that used to be used for fleet sales and the other is annexing the dirt fields bordering the paved lot.
Just bought A new honda, didn't even look at those losers. Japs are making the best cars for the buck, hands down.
Challenger Hell Cat.
Think I could crowd-source some funding for one of those...?
complete fucking joke. data is getting worse & worse. these jackasses at the fed are going to use it as an excuse "seeee, you fuckers can't live without us". can't wait til that dick mark zandi comes on and tries to explain this one away. "weather" - its 45-50 degrees outside, gimme a fucking break. when these #'s blow over the summer, is it gonna be too hot outside when its 75-80 degrees?
BAD TRADE FED - u put it on, now RIP IT OFF before you lose anymore $$$ on this one. i know its not gonna happen tho since "the people" feel as tho they've been thru enough pain already. truth is, they haven't felt shit yet.
Down is up, up is way up. Bad news is good, good news even better
Since Lehman™
I don't get it. I thought bad news was good news. Clearly this means the FED won't raise rates in June. Shouldn't Stocks be ripping right now? What the hell is going on?
Construction spending (feb) was a miss
expected +0.2%
actual -0.1%
january revised down from -1.1% to -1.7%
say hello to another downward revision to Q1 GDP
Does making dollars count as manufacturing?
Hell Yes...!!! Bearings, grease, maintenance - and did I mention, bearings...?
Bearings?, I heard ya'll takin' 'bout bearings and well I like bearings.
"It's all ball bearings these days!"
Manufacturing in the U.S...... Lol, what a joke. As a serious side note, today I've had my biggest poop since Lehman.
Brilliant. +1
Yeah, but did you remember to flush in mid-poopery to avoid a log jam...?
I alomst spit my coffee on the screen after reading this. Thanks for the injection of humor.
I want to hear more news about rate hikes!! Enough talk, just do it you stupid shits!. Let's get this big bang over with.
It's priced in. BTFD.
All green by closing time today.
The sad thing is that's probably exactly right. I feel dumber every time I sell.
I think Tyler is conducting a Psyop.
Since Lehman is funny, but serious too.
..so does this mean the Fed will not be able to raise rates? How does this work out for the USD lngs/EUR shorts?
This is why the Fed jawboning about raising rates is Bullshit...have you seen a rate hike? no. and you wont.
401k going back into the international stock funds today.
Meanwhile, gasoline prices are going up yet crude is still around $50 a barrel. And prices of petroleum by-products have never gone down. What the eff?
So we are in year 7 A.L.