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US Manufacturing PMI Misses By Most On Record As New Orders Tumble
On the heels of weak PMIs from Europe and Asia, Markit's US Manufacturing PMI plunged to 54.2 in April (from 55.7). Against expectations of a rise to 55.6, this is the biggest miss on record. Of course, this is 'post-weather' so talking-heads will need to find another excuse as New Orders declined for the first time since Nov 2014.
Oops!
Chart: Bloomberg
Commenting on the flash PMI data, Chris Williamson, Chief Economist at Markit said:
“Manufacturers saw a disappointing start to the second quarter, reporting the weakest growth since January. Key to the slowdown was a weakening of export orders, in turn a symptom of the loss of competitiveness arising from the dollar’s strength.
“However, while exporters are suffering, domestic demand looks to have remained robust, helping to sustain a reasonably strong production trend.
“While growth has clearly slowed in 2015 compared to the impressive rate seen throughout much of last year, the goods-producing sector is by no means collapsing under the weight of the strong dollar, and fears of a sharp slowdown consequently look overplayed.
“The appreciation of the dollar is meanwhile also helping to keep inflation down, with firms reporting lower import prices helping push average prices paid for raw materials down sharply again. The past two months have seen the steepest back-to-back falls in manufacturers’ input prices since 2009.”
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We're gonna need a better excuse than weather!!!
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there's manufacturing in the US?
manufacturing propaganda
Manufactured statistics. This is just the news .gov has been waiting for to boost GDP forecasts. With news this "bad", GDP can only rise from here.
The problem isn't the economy. The problem is that the expectiations were too high. We just need lower expectations and then everything will be fixed.
"US Manufacturing PMI Misses By Most On Record..."
Sorry Tylers; I'm a big supporter but you have to get your facts straight.
The misses have been bigger as recently as December 2014:
http://www.forexfactory.com/#graph=55253
"If we did QE 4 at 200 Billion a month then manufacturing would improve,", Krugman
You'd have to break a lot of windows, that's what WOAR is FOAR!
there's manufacturing in the US?
Yes, but fat dumb FSA'rs not included in this index.
If so it would look like our currency in circulation and debt charts.
Green shoots!
Recovery Summer 7
Unexpected downturn just as the recovery was taking hold
Purchasing Manager's Indigestion
I blame the Marcosians!.... And of course the weather.
yes, but both manufacturers are having a hard time.
B U L L I S H ! ! !
No rate hike
no rate hike
ever
(until it's too late...)
That's all it took to push the S&P and NASDAQ Into positive territory.
Doesn't matter!!
S&P is going green and volatility has vanished COMPLETELY! COMPLETELY!!!
What a fucking bullshit charade!
Bill Dudley has gone stark raving mad, even for his standards.
Don't worry, our "leaders" have our backs here:
/S
http://www.washingtonpost.com/politics/obamas-fight-for-trade-authority-...
All stocks going up as all business implodes...this is going against what my 8th Grade Econ 101 class taught me....
You need a PhD to understand serf.
You have heard of the "new math"? Well this is the new Econ 101 they are teaching. Bad is good, up is down and in all cases profits are bad. Start an altruistic "non-profit" and join the collective.
The problem is actually Narcotizing dysfunction.
isn't ammo manufacturing included in this number?
-Department of Homeland Security
Manufacturing citizen paperwork for 10s of millions of "tired, poor, huddled masses, homeless, tempest-tossed" will be the next boom.
.
Another 100 points of Air in the Dow. This shit is really insane.