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ISM Manufacturing Weakest Since May 2013 Amid Collapse In New Orders
Following Manufacturing PMI's weakness and ADP's Manufacturing employment weakness (and six regional Fed surveys' weakness), ISM printed 50.2 (the 3rd miss in a row, the 9th miss in the past 11 months, and lowest since May 2013). Under the surface was a disaster with New Orders collapsing (unadjusted are weakest since before 2013) with just 22% saying New Orders are better (the lowest since August 2012), and greater than respondents saying "Worse" for the first time since December 2012
As New Orders completely collapse...
Virtually everything else tumbled too, with Production, Employment, Deliveries, Prices, Backlogs and Imports all dropping:
This is what the respondents said:
- "Revenues and profits in our industry continue to [be] impacted by low crude and gas prices." (Petroleum & Coal Products)
- "North American business steady. International business trending bearish." (Chemical Products)
- "High value of dollar is affecting global procurement pricing." (Computer & Electronic Products)
- "Concerns about China downturn and its effect on our consumer confidence." (Fabricated Metal Products)
- "Overall business is slowing. Consumers are nervous. Not sure what is coming next." (Transportation Equipment)
- "Business is picking up." (Furniture & Related Products)
- "The orders from customers seem to be slowing a bit from the first part of the year. We have promises but not actual Purchase Order numbers." (Nonmetallic Mineral Products)
- "Sales revenue and profitability improving slowly. Getting close to 2015 budget/sales plan. Not seeing consistent trends up or down." (Electrical Equipment, Appliances & Components)
- "Continue to feel impact of oil and gas market slowdown. Aerospace demand has also been slower than expected. Consumer Electronics not robust." (Primary Metals)
- "Concern for AI [Avian Influenza] for poultry when bird migration begins." (Food, Beverage & Tobacco Products)
With 6 of 6 regional Fed Surveys all recessionary...
And according to ADP, for the first time this decade, the US hasn't created a single manufacturing job for the entire year. In fact, it has lost some 6,600 jobs.
Charts: Bloomberg
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please CNBC, keep up the great work & conversation on how healthy the economy is & the "prospects for interest rate increases"
bond market disagrees. im sure u guys are smarter.
great rotation talk? how about OUT of stocks and INTO bonds.
HYG did an about-face as well. looks like the japanese pension fund bounce got hit by a mack truck
At this juncture it is completely plausible to start the rate hikes and qe4 at the same time.
now is everyone happy?
signed
Ols Yeller, Bulltard, Evans i mean Evil
All those loans and bonds for buybacks and other fun stuff are coming due, we're gonna have bankruptcy court backed up for years and a zombie economy ran by the special people, at least that's what the elites think. I can hardly wait for the food riots.....
Relax people remember what Janet Yellen said, its all TRANSITORY!! Janet Yellen you are a fucking cunt along with all your dicks you work with.
An artillery shell in the air is transitory, but there's still an explosion in the end.....
Quick! Everybody replace their toilet! (just save the 1.6 gallon flush if you sitll have one)
Put the old one out on the lawn! Makes a great flower pot! Do we make garden gnomes?
that means I have to go buy new soil to put in the toilet flower pot then I have to buy new flowers...etc. man, the economy is back! Buy buy buy, lol
Walmart Set To Cut Hundreds Of Jobs At Headquarters
http://fortune.com/2015/09/30/walmart-job-cuts/
Manufacturing we leave to others, hahahaha. We only consume, being the Kings of the planet.
CNBC mouthpiece is screaming the US is booming but the rest fo the world might be contracting. lol I guess it's bullish!
QE 4 anyday now...
whew, just when ES was about to drop under 1900, we get this glowing news that the fed can proceed with qe4 to steal more money from the bottom 99% to give to the top .0001%. AWESOME!!!
Everything's awesome ... except ... not really.
Time for negative interest rates.
Perfect timing for all of this bad data to come out. GDPNow will not be updated for another month with the start of the new quarter.
Until then, all is great!
It's NOT the weakest since Lehman sooooooo everything is AWESOME then, right?!?
the usa makes trillions of dollars worth of website ipos so it all evens out
Sorry, this is partially due to me. I am reducing my business inventory and going partial Galt, just as are tens of thousands of other small businesses. Good luck!