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US Manufacturing PMI Hovers Near 19 Month Lows, Employment Tumbles Amid "Worrying Undercurrents"
Despite a very marginal improvement (from 53.6 to 53.8), Markit US Manufacturing PMI remains stubbornly stuck at 19-month lows, unable to bounce from the weathewr-strewn, port-strike-ridden weakness of Q1. As Markit notes, "a modest upturn in the headline manufacturing PMI belies some more
worrying undercurrents which point to potential weakness in coming
months," and the slump in unemployment index suggests things are not well at all...
The broad index is unable to get a lift...
as employment tumbled...
As Markit reports,
“A modest upturn in the headline manufacturing PMI belies some more worrying undercurrents which point to potential weakness in coming months.
“Companies saw output and order book growth regain a little momentum at the start of the third quarter, but the overall pace of expansion was nevertheless the second-weakest seen since the government shutdown of 2013.
“Manufacturing has been stuck in a lower gear in recent months compared to the strong expansion seen through much of last year, linked to weak exports and uncertainty about the economic outlook at home and abroad.
“Although export orders showed the first rise since February, the rise was only very modest, blamed by companies on the appreciation of the dollar and sluggish global demand.
“Disappointing order book growth has taken its toll on companies’ expansion plans. Not only did firms scale back their input buying compared to prior months, with July seeing the smallest increase since the start of last year, hiring has also been hit, with headcounts rising at the slowest rate for three months.
“Weak demand, as well as reduced import costs arising from the strong dollar, meanwhile also continued to help drive down inflationary pressures.
“The survey data therefore suggest there’s little to worry policymakers from an inflation perspective, and that the forward-looking indicators point to the manufacturing sector remaining in a relatively slow-growth phase.”
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must be record june snowfall
Personal story: I've been working on a project since early 2012. I have my second prototype working, and designs in place for my third prototype. I was looking at incurring some debt to finish this, but after seeing the ferocity with which the banksters shut down Greece I've decided that it is simply too dangerous to carry any debt of any kind whatsoever. So as of now my project is shut down, and I'm walking away from it unless some kind of windfall comes my way; it is not difficult to imagine there are many others who are coming to similar conclusions regarding the taking on of new debt.
So thanks, banksters. Seeing the viciousness, the vile smugness and the utter depravity of how the banksters took Greece out, and the absolute lack of any hesitation whatsoever in doing whatever it took to make sure they got their blood money no matter how much human misery it caused, has convinced me that I don't want to be carrying ten cents in debt. The loathsome and despicable deeds done to Greece has shown me that there really is only one real task that the entire world needs to be working on, and that task is to end the central bankers forever, by any and all means available.
Yellen raising rates in September will fix everything
David Stockman looks at unemployment:
At the present time, there are 210 million adult Americans between the ages of 16 and 68—to take a plausible measure of the potential work force. That amounts to 420 billion potential labor hours, if we accept the convention that all adults are at least theoretically capable of holding a full-time job (2,000 hours/year) and pulling their share of society’s need for production and work effort.
By contrast, during 2014 only 240 billion hours were actually supplied to the US economy, according to the BLS estimates. Technically, therefore, there were 180 billion unemployed labor hours, meaning that the real unemployment rate was 42.9%, not 5.5%!
http://davidstockmanscontracorner.com/the-warren-buffett-economy-why-its...
“Weak demand, as well as reduced import costs arising from the strong dollar, meanwhile also continued to help drive down inflationary pressures."
haha
c'mon ... you can say it
D-E-F-L-A-T-I-O-N-A-R-Y
Buy bawnds.
So double digit GDP growth then?
So I hear old Yeller is about to lift rates because the eCONomy is so strong. LOLOLOLOLOLOLOLO........
Last 2 US recessions (per NBER)
march 2001 - november 2001
december 2007 - june 2009
6 years 1 month between
Current "recovery"? ... 6 years 1 month
tick tock tick tock tick tock ...
Nyuck, nyuck, nyuck Moe Yellen
This is very good news right? We are staying on a slow & steady course. With Jack Yellen at the helm plotting the next heading. Which I'll wager will NOT be a rate increase.
"We" don't want growth to be to fast or strong, Jack is looking out for the real wage earners! The 1% of the 1%, without them we would all be serfs!
Bankster assholes have got the system right where they want it.
Bullish! Bauy Stawks and Baunds!