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US Manufacturing PMI Collapses To 2 Year Low As New Orders, Employment Slow
Despite EU PMIs surging, US Manufacturing PMI has re-collapsed to 25 month lows as manufacturing employment showed "one of the smallest monthly gains seen over the past five years." The 52.6 print is below October's 54.1 and expectations of 54.0. Export orders saw renewed weakness and overall new orders, output, and employment slowed. Of course, hope remains that the Services side of the economy will maintain the dream of escape velocity but if last month's drop in Services PMI is anything to go by, it seems unlikely.
Commenting on the flash PMI data, Chris Williamson, chief economist at Markit said:
“November’s flash PMI survey indicates that the manufacturing sector lost some growth momentum after the nice pick up seen in October, but still suggests the goods producing sector is expanding at a robust pace which should help support wider economic growth in the fourth quarter. The survey data are broadly consistent with manufacturing output growing at an annualised rate of at least 2% in the fourth quarter so far.“Domestic demand appears to be holding up well, but the sluggish global economy and strong dollar continue to act as dampeners on firms’ order book growth. Export orders showed a renewed decline, dropping for the first time in three months.“Manufacturers consequently took a more cautious approach to hiring, with employment showing one of the smallest monthly gains seen over the past five years.“With the survey continuing to show modest growth, and any weakness linked to the global economy rather than a deterioration in domestic demand, there seems little in the survey results to throw up any roadblocks to a Fed that seems intent on hiking interest rates in December.”
Charts: Bloomberg
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These are the wrong numbers, i am sure.
In Europe they say "Look how America is doing well and growing, soon Europe will do the same. We are just a bit slower.".
Those cheeky bastards, i think they are lying.
Zero Hedge likes to use the word "Collapse" in their headlines, but as I keep reminding the ZH faithful, an index above 50 represents GROWTH. If the index is "down" but still above 50, as is this one, it means "Slower Growth." Only in the ZH universe is "Slower Growth" the same as "Collapse."
Obiewononomics: "This is the not the collapse you are looking for."
Can we call it a collapse in growth? You're right though, to the point that the work 'collapse' has lost its meaning, it now means 'went down a bit' - Surge means 'went up a bit'.
Bullish....
More positive news and reason to raise rates.
It is becoming more and more insane and all by design.
Green light! Red light!
Good for another green day. Keep buying bitches.
Sorry, this is due to my having gone partial Galt (me and thousands of other small business owners).
Next up: Ice Fishing Season! Beats expanding my business and hiring people - the lefties hate me for that, See you on the ice!
Green shoots and escape velocity.
It doesn't matter. Stocks UP - Gold DOWN until WW3 happens. Nothing else is going to happen accept for that.
I made a video on my Youtube channel earlier today about MOPE or Management of Perception Economics which might be of interest after the weak U.S. economic data this morning. Here is the link:https: //www.youtube.com/watch?v=Fnpsi8Q1tH8
Prices keep dropping fast. Might be the first time in history we lower our Price Sheets. The Fed’s Commodities Roller Coaster Ride is headed to an underground tunnel of darkness and despair.
Meh..., Santa Clause is coming, buy stawks.
...yes slower growth isnt 'collapse'. however, it does LOOK like a multimonth trend developing. a nice .25 pt jump in rates should help continue the trend below the 50 mark. stonger dollar and all....
Excellent. I got a great idea, with 98 million AMericans not working, let's let in millions of more low skilled illegals and h1b's into the country. Awesome, keep up the great work Washington.
You're welcome gringo
-washington.