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ISM Manufacturing Slumps To 3-Month Lows Led By Plunge In Employment
It appears ISM Manufacturing data has been 'leaked' early and is reportedly printing 52.7 in July, down from 53.5 prior and missing expectations. This is the weakest print since March as the Q2 bounce is now officially dead. Both imports (lowest since Jan 2013) and new export orders (lowest in 3 years) declined as employment tumbled. In fact every subcomponent fell aside from new orders, production, and supplier deliveries with order backlogs at their lowest since Nov 2012.
The bounce is dead...
with broad-based weakness....
What the respondents were saying:
- "AI [Avian Influenza] fears in poultry industry [are] killing exports." (Food, Beverage & Tobacco Products)
- "The market is in the summer slow-down." (Fabricated Metal Products)
- "Oil price decline continues to negatively impact Oil & Gas industry in North America as many projects are not economically viable. Oil & Gas jobs outlook is in retrenchment. Petrochemical (refining and chemical manufacturing) is positive from a margin perspective, but focus is steady on safe cost containment." (Petroleum & Coal Products)
- "Falling oil prices are once again driving chemical raw materials prices lower and creating an expectation of even lower prices in the coming months." (Chemical Products)
- "The month of July was really slow, slower than the previous month. We are optimistic for the remainder of the year." (Computer & Electronic Products)
- "Global orders still holding up in the wake of international uncertainties." (Fabricated Metal Products)
- "Business conditions are stable, little change from last month." (Miscellaneous Manufacturing)
- "There’s an abundance of containerboard in the global markets." (Paper Products)
- "Inbound logistics are almost back to normal." (Machinery)
- "Business continues to be strong." (Furniture and Related Products)
And while one can doubt in the current rout there are any commodities in short supply, according to the ISM for the second consecutive month there was an egg shortage across the US.
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Been a while since the FED made a "liar loan" to Wall Street (QE).
Recovery Summer Number Six®
Let me guess bull...aw shit just BUY ALL THE THINGS!
Buy U.S. Dollars.
Sell gold.
Gold is not money, it's just a tradition according to the Federal Reserve or the Central Bank of these United States.
Even though the American Comptroller of the Currency classifies gold as money.
Remember.
Americans, Europeans, the Chinese and the Russians sell gold futures which are supposedly claims of one kind or another on gold.
So the price of gold will NEVER EVER go up. It will only go down.
Silver?
Worse than gold.
Throw it away with your leftovers.
What kind of morons are these Americans?
What kind of a moron are YOU for selling yourself and your stuff to the Americans in return for the undefined and illegal dollars that they email you?
You are one of a kind.
Greenspan? Alan Greenspan?
It will only go down? So why isn't gold priced lower than $35/oz.
As one that his been here with many others pointing out that clearly we are headed in the wrong direction, the data is proving us correct.
But we are in bad shape because we still have not addressed the solutuion machine that will offer all the wrong solutions to the upcoming disaster that is the US economy.
DC is still the same, the Fed is still the same.
Are we waiting to just short the market to the nth degree, take our pms, and then wait for the cycle to repeat?
Is there any end game to this game that is destroying us bit by bit?
ANR is a good example-destoyed by Obama, as promised. And no one even did a think to halt what everyone eventually saw was coming.
Best reason I have seen all day to short gold and buy moar Apple.
Best reason I have seen all day to short gold and buy moar Apple.
I love Tylers opening paragraph. But when I read Marketwatch on the same topic, vastly different interpretations.
" U.S. manufacturers decelerated a bit in July after growing at fastest rate in five months in June, a survey of executives found. Market News and Reuters said the Institute for Supply Management's manufacturing index fell to 52.7% last month from 53.5% in June. That was below than the 53.7% forecast of economists surveyed by MarketWatch. Readings over 50% indicate more companies are expanding instead of shrinking. The key components were mixed: the new orders index edged up to 56.5% from 56.0% while the employment gauge fell sharply to 52.7% from 55.5%. It was not clear why the data was released ahead of the 10 a.m. Eastern scheduled release."
bless you rupert murdoch
from MSN today: "
Consumer spending edges up as jobs and incomes rise""American s' purchases increased 0.2% after jumping a revised 0.7% in May.. Economists expected a 0.2% rise.
Personal income increased 0.4%, above the 0.3% projected by economists."
If you weighed 185 pounds and you adde 0.02% weight, you'd gain a 0.37 of a pound.
If you were 6 feet tall and your grew 0.02%, you'd be 72.14 inches tall.
No one would even notice.
are you calling me fat!?
it's like animal farm!