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US Services Economy Crashes To 2015 Lows (And Surges To 6-Month Highs) - Obamacare Blamed
US Services PMI rose from 54.8 in October to 56.1 in November - the highest since May 2015 (but this is a drop from the flash print of 56.5 and 2nd biggest miss against expectations of the year). ISM Services crashed from 59.1 to 55.9 (drastically missing expectations) hovering near its lowest since April 2014. Weakness is across the board with Business Activity, New Orders, Employment, Backlog, Exports and Imports all down. Why is the service economy slipping? Simple, the "Affordable Care Act impacting our business, reducing revenue while increasing cost of care."
US Servcies PMI missed expectations but has only been higher in May...
But ISM Services collapsed...
So take your pick!
ISM Services New Orders are tumbling...
Respondents noted...
"Affordable Care Act impacting our business, reducing revenue while increasing cost of care. Several states consolidating medical/behavioral providers which have impacted existing business negatively." (Health Care & Social Assistance)
"Customers’ outlook on their revenues is softening." (Management of Companies & Support Services)
"Moderate activity level. Some suppliers are providing longer lead times due to their own increased backlog." (Professional, Scientific & Technical Services)
"Conditions are holding steady for a profitable year and 4th quarter." (Finance & Insurance)
"Overall food [cost of goods sold] (COGS) has remained generally lower throughout 2015 due to strong dollar, less exports to other countries and low corn prices." (Accommodation & Food Services)
"Continuing competitive pressure in the grocery retail industry has led to implementation of lower prices across all markets and increased focus and efforts from the organization to reduce cost of goods [sold]." (Retail Trade)
"Q4 retail expectations high, and prep for December peak volumes up in all aspects of staffing, inventory build, and supply purchasing." (Transportation & Warehousing)
"Year-over-year sales for the same month are down 3 percent." (Wholesale Trade)
and across the entire survey, things are weaker...
Still just keep ignoring the data...
Manufacturing leads Services into recession.
Charts: Bloomberg
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Hillary is up Next!
Can't wait!
in the mean time Thank you President Obama For the Awesome RECOVERY!
i will be looking for my Food Card SOON!!!!
Hillary promises to revitalize the service industry! More service industry jobs for all! If you want your job in services, you can KEEP your job in services!
Just wait, soon we'll be living in shipping containers and eating Soylent Green. I can hardly wait......
Mario and Yellen in the same morning. What did the world do to deserve this shit. Going back to bed
What the fuck? Businesses got something against shitty health insurance that also happens to cost an arm and a testicle (left or right- your choice)?
Both testicles, since our future is testosterone free......
Interesting correlation, will add to my list.
All 1oz Silver coins are €12 @ EurGold
https://www.eurgold.eu/silver/silver-coins/
Ah Shaney - there you are again my friend! Heres a copy from another reply i sent you today!
Hi there Shane me auld flower - still flogging that dead horse that is Eurgold.eu i see!
For the other readers out there - this isnt the first time the greasy headed Shane (the owner of Eurgold.eu - cant find his pic now but his greasy head and 4 sizes too big suit should have been enough to put me off initially) has advertised non existant coins at 'bargain' prices. In fairness - he was good enough to return my money after he used it for a few weeks. He said his suppliers had let him down and he couldnt fulfill the order and he was oh so sorry. So i took him at his word, placed a new order, but before i sent the money said i would correspond to see if he could deliver this time. Funnily enough - still havent had a reply. Any luck with my last order there Shane?
So Shane - can you ship these out this time bud? Hows Stripe working out for you with the payments? Oh - they pulled your service you say.... Pity that.
P.S. This website was up for sale a few weeks back. I think he is trying to drive traffic so that the stats might make it appear 'saleable'. I could go on..... Nuff said. best of luck buddy!
P.P.S - here he is: https://crunchbase-production-res.cloudinary.com/image/upload/c_pad,h_14...
rumor has it the central bankers have agreed to save the world by talking to the media non-stop all the time, rotating between themselves. that way, the algos they and their friends programed can go on an eternal feeding frenzy of stuff-quoting one another without any volume and driving equity prices to the roof and US yields higher (they never, ever go down when they talk). yellen yaps from 6AM to 8AM, then Dragui from 8 to 10, Kuroda until noon and Carney until 2pm. Dudley would take over until 4pm and voting members would do the night shift to keep Asia going.
this would obviously require that KHenry work non-stop and the NY FED hire some additional 400 "traders" to "monitor" markets.
non corrupt
Damn, I never looked at it that way. Has this played out other times this year? Shit is weird.
As Charles Barkley would say: "Dats messed up maaaan"
If you want your steekin' manufacturing sector, you can't keep it.
Dis-ease Care
https://research.stlouisfed.org/fred2/graph/fredgraph.png?g=2CDg
https://research.stlouisfed.org/fred2/graph/fredgraph.png?g=2CDh
See the links above for what dis-ease care is doing to the eCONomy at present.
Hint: recession.
Shhhhhhhh . . . Don't tell Auntie Janet.