US Manufacturing Plunges To 7 Year Lows As PMI "Dashes Hope That Q1 Weakness Was Temporary"

Tyler Durden's picture

Following Japan's record low PMI, Europe's modest pick-up, and China's bounce, this week's Philly Fed crash was more indicative as US Manufacturing (flash) PMI printed 50.8 (from 51.5 in March and notably missing 52.0 expectations). This is the lowest print since September 2009 with New Orders sliding (weakest since Dec 2015), and Employment at its weakest since June 2013. As Markit notes, "US factories reported their worst month for just over six-and-a-half years in April, dashing hopes that first quarter weakness will prove temporary."

Not pretty - but probably transitory, right?

Hmm, but everyone says the labor market is great?

Commenting on the flash PMI data, Chris Williamson, chief economist at Markit said:

“US factories reported their worst month for just over six-and-a-half years in April, dashing hopes that first quarter weakness will prove temporary.

 

Survey measures of output and order book backlogs are down to their lowest since the height of the global financial crisis, prompting employers to cut back on their hiring.

 

“The survey data are broadly consistent with manufacturing output falling at an annualized rate of over 2% at the start of the second quarter, and factory employment dropping at a rate of 10,000 jobs per month.

 

“With prior months’ survey data pointing to annualized GDP growth of just 0.7% in the first quarter, the deteriorating performance of manufacturing suggests that growth could weaken closer towards stagnation in the second quarter.

 

“The survey responses reveal an increase in business uncertainty in relation to both the economic and political outlook during the month, which is weighing on spending and investment decisions and exacerbating already-weak demand both at home and abroad.” 

But apart from that, everything is awesome - it must be, because stocks are within reach of all-time highs?

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Paul John Smith's picture

THIS MEANS BAD-NEWS IS STILL GOOD-NEWS!

RIGHT?!?

http://iamsully.com/?p=17187

Tom Servo's picture

Dude, you're peddling some fiction here...

 

Paul John Smith's picture

No way man - it's just too much truth for you.

nink's picture

Why have dozens of posts dissapeared from Zerohedge.com in last 2 hours.  Check the twitter feed with links all these posts are gone https://twitter.com/zerohedge

philipat's picture

Yes, I couldn't get connected for several hours. looks like a DDOS or a Hack? And it's still very slow??

nink's picture

Looks like their SQL database creashed and they restored from backup . 

Paul John Smith's picture

That's possible - doesn't really totally explain the "drupal error page", given that they use wordpress ...

On the other hand, who knows ...

Personally - I think the site has gotten progressively worse, over time, as they've sold "ad space" on the margins.

Taylor's picture

This is Donald Trump's most shocking statement yet,

However the mainstream media isn't saying a word about it!

What are they really trying to cover up??!?!

www.legitorscamreview.com/the-final-bubble

Paul John Smith's picture

This market has become a convictionless "buy" and a convictionless "sell" market. Volume has told the whole story since 2010.

LawsofPhysics's picture

LOL!  Actually manufacturing something requires real work and real resources...

why do that when you can click a few buttons and give yourself as much money as you want, keep the paper-pushing going while collecting fees and bonuses...


Rodders75's picture

MDB what say you?

TradingIsLifeBrah's picture
TradingIsLifeBrah (not verified) Rodders75 Apr 22, 2016 9:49 AM

NYTimes:  Suicide in the United States has surged to the highest levels in nearly 30 years, a federal data analysis has found, with increases in every age group except older adults. The rise was particularly steep for women. It was also substantial among middle-aged Americans, sending a signal of deep anguish from a group whose suicide rates had been stable or falling since the 1950

Dr. Engali's picture

What's going on with the site? Forget to pay this month's server rent?

TradingIsLifeBrah's picture
TradingIsLifeBrah (not verified) Dr. Engali Apr 22, 2016 9:50 AM

Too many people using Adblock :(

GeezerGeek's picture

For all the complaints on ZH, many of us here are really part of the FSA. We don't necessarily ask for EBT cards or Obamaphones, but we want our financial fixes to be free of ads that clutter our screens and eat up our CPU cycles. Even browsers are getting in on the trend, with Reader View in Firefox and similar features in other browsers. Plus, we want to browse in private, leading to addons like Ghostery that can suppress trackers, etc. And as for paying for the priviledge of reading ZH and adding comments, forget it!

It is truly a conundrum. We want to have our cake and eat it too - but without gaining any weight of course.

Paul John Smith's picture

Wrong ... lots of people run blogs that allow people to "pay" rather than be scammed. Kunstler.com is just one such site - he accepts donations. I charge NOTHING and have no paid adverts. Of course, I don't have a ton of traffic - but the ads don't help with traffic (I'm a software eng/web programmer, I know what I'm talking about).

Golden Phoenix's picture

If you pay for a landline you can get on a no call list so others don't abuse it. If you get a smart phone you should be able to block unsolicited ads so spammers of video ads don't use up your 1 gig data allotment in 1 day. Unsolicited ads are theft of bandwidth pure and simple.

A simple banner ad is a reasonable ad. Hyperlinked text is a reasonable ad. An ad which automatically starts playing a series of loud videos is not.

If a personal has vision issues there should not be so many ads the useful text is reduced to a small box in the middle of the screen.

Sites which host advertising in a responsible, reasonable manner will survive with no problems. Those who assault viewers with the modern equivalent of AOL blinky gifs will quickly perish and good riddance. The problem is not people who want content for free, it's advertisers who rudely want to squander our bandwidth for free.

 

rejected's picture

Patience grasshopper,,, everything breaks once in awhile.... even our new god Mr. Digital.

Captain Chlamydia's picture

All indicators of the economy are pointing down ; caterpillar, Iron ore, steel, oil, Baltic Dry Index,  employment etcetera. 

Only Wall street and the MSM, plus the Fed and Obama are peddling fiction. 

TalkToLind's picture

New cars excluded, do we actually produce anything here in Murica?

Winston Churchill's picture

Lots of weapons, and idiots to use them.

adr's picture

It's OK the Chinese have found their newest speculative binge, LEVERAGED COMMODITY MARKETS!!!!!

Why invest in a plastic umbrella company when you can speculate in oil, steel, soybeans, etc. IMAGINE THE WEALTH EXPLOSION AS CHINESE GRANDMOTHERS BID OIL TO $2500 A BARREL!!!!

Well at least that is the current cover story.

Oil is way above $44, so Gartman must be dead. and RBOB is heading above $1.60.

FUCK ALL THINGS TO DEATH!!!!!

WasNotWuz66's picture

I was not aware the US had ANY manufacturing left............. wha'd I miss??

DaBard51's picture

TradingIsLifeBrah, if you cite, post a link...

so here it is:

https://afsp.org/about-suicide/suicide-statistics/

JonNadler's picture

nothing that some paper manufacturing can't fix

Spungo's picture

We don't need no stinkin economy. We can print our way to prosperity. 

Infield_Fly's picture
Infield_Fly (not verified) Apr 22, 2016 11:13 AM

LMFAO!!!!

 

Get your flabby ass and flapjacks moving and fix it yellen.....NOW....YOU FUCKING CUNT!!!!

south40_dreams's picture

The fed will print us to prosperity and beyond

ImmodestExtant's picture

So the "great" March results in almost every survey index were just due to seasonal maladjustments? Who'da thunk it... remind me again why surveys need seasonal adjustment anyways? Because respondents are more depressed in winter?