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US Services PMI Misses By Most On Record, Tumbles To Lowest Since January
Missing by the most on record (as serial extrapolators expected a rise to 56.5), Markit US Services PMI (following weakness in the Manufacturing PMI) printed 54.8 - the lowest since the middle of weather carnage in January. As Markit notes, with the exceptions of the weather-related slowdown at the turn of the year and the 2013 government shutdown, June saw the weakest pace of economic growth since May 2013 as the Composite PMI slipped to 54.6 - its lowest since January 2015 (as employment tumbled and cost burdens surged the most since Oct 2013). As Markit conludes, hopes for a 3.00% growth are receding as "there has clearly been a loss of momentum in recent months."
Signaling growth expectations are way ahead of themselves again...
Commenting on the flash PMI data, Chris Williamson, chief economist at Markit said:
A slowdown in the economy at the end of the second quarter may mean the Fed takes a further pause for thought before hiking interest rates.
The latest flash PMI surveys showed the smallest rise in service sector activity since January and the slowest growth of factory output for over a year and a half, linked to the strong dollar.
With the exceptions of the weather-related slowdown at the turn of the year and the 2013 government shutdown, June saw the weakest pace of economic growth since May 2013.
While the surveys point to the economy growing at an annualised rate of around 3% in the second quarter as a whole, there has clearly been a loss of momentum in recent months. With June also seeing one of the smallest increases in new orders recorded over the past two years, the surveys suggest that GDP growth could slow appreciably in the third quarter.
Although the PMI data also point to employment rising strongly again in June, consistent with another 200,000-plus rise in non-farm payrolls, hiring is likely to cool in coming months in response to weaker order book growth.
The big question is whether these signs of the economy losing momentum will buy more time at the Fed, pushing out the first rate hike into next year, or whether policymakers will be persuaded into hiking sooner due to the current strength of the labour market, robust second quarter economic growth and reviving price pressures.”
Charts: Bloomberg
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pmi
Perplexed
Managers
Index
What we need now is a secret trade bill.
It's just a coincidence that all the independent and semi-independent data that Government can't directly fiddle with (Or multiple seasonally adjust) is negative. Trust me.....
...may mean the Fed takes a further pause...
before hiking interest...
shocking... just shocking
Gee, we never saw that coming. It's only a surprise to the sheep and with the big players nonchalantly heading toward the exits to the casino, things will start getting interesting........
Ergo 'QE' is back on the table. Buy with both hands folks
Just have that Index 'Put' should the inevitable 'black swan' appear !.
The big question is whether these signs of the economy losing momentum will buy more time at the Fed, pushing out the first rate hike into next year, or whether policymakers will be persuaded into hiking sooner due to the current strength of the labour market, robust second quarter economic growth and reviving price pressures.”
The big question........fuck off you data dependent dick.......as if such data ever mattered.
The big question is, when is the FED going to let the market determine rates, so that we don't have to listen to asshats like you ask the same retarded question over and over and over - :"will the fed hike....blah blah blah."
Seriously, the extent of the intellectual rigor from economists is all but absent.
End the Fucking FED
"intellectual rigor from economists is all but absent"
data point #6429 in support of my theory: humans are the dumbest species on the planet
And if this past week wasn't enough...Apparantly people were arguing about a flag while the government sold us out.
imagine what the govt could get away with if a Kardashian had a boob pop out of her bikini
Damn snow! Snowiest spring on record! And winter is just around the corner!
How can that be?
Personal Spending Surges Most Since August 2009 As Savings Rate Tumbles
All data points are bullshit
http://www.zerohedge.com/news/2014-09-17/fomc-keeps-considerable-wealth-...
PMI = Precious Metals Irrelevance
Falling - CHECK
Americans are complete morons data point #378,491....
http://www.silverseek.com/article/selling-10-oz-silver-bar-10-when-its-worth-160-experiment-14573
Lies and then are Dam Lies...I think we are beyond the Dam ones
The FED will NEVER, EVER EVER raise rates! Ever!
The game is up and they all know it.
Don't you know it as well? We are all fucked to high heaven!
Loss of economic momentum? There never was any momentum, except on CNBC.
man even the cooked numbers look like shit
Negative interest rates, bitches!