'Soft' Data Bloodbath - Manufacturing/Services PMI Plunge Below Trump Election Lows

Tyler Durden's picture

Having now plunged for three straight months, Markit's PMI surveys for Manufacturing and Services plunged back below pre-election lows in April, crushing the dreams of 'soft' survey hopers as Markit notes the latest data "suggest the US economy lost further momentum at the start of the second quarter."

The Composite flash PMI for April printed 52.7 - the lowest since September 2016. 


What happens next?

 

Commenting on the flash PMI data, Chris Williamson, Chief Business Economist at IHS Markit said:

“The PMI data suggest the US economy lost further momentum at the start of the second quarter. The surveys are signalling a GDP growth rate of 1.1% after 1.7% in the first quarter.

 

“The vast services economy saw the weakest monthly expansion for seven months and the manufacturing sector showed signs of growth slowing further from the two-year high seen at the start of the year, despite export orders lifting higher.

 

“The labour market also continued to soften. The surveys signalled a marked step-down in the pace of hiring in March which has continued into April. The latest survey data are consistent with only around 100,000 non-farm payroll growth.

 

“The survey responses indicate that some froth has come off the economy since the post-election bounce seen at the end of last year. However, with inflows of new business picking up slightly in April and business optimism about the year ahead also brightening, there’s good reason to believe that growth could revive again in coming months.”

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cossack55's picture

Go long flip-flops

BigFatUglyBubble's picture

Back in my day we called them "thongs."

Dr. Engali's picture

Come on Trump, you're wearing us out with all this winning. I'm tired of it already.

Philo Beddoe's picture

Losing is the new winning. 

foodstampbarry's picture

Blame falls on 8 years of that useless negro, he still owns this shit sandwich.

FrozenGoodz's picture

All time highs and 4.7% unemployment ... the pits

Dr. Engali's picture

You do know that the headline unemployment number only tracks those people still in the workforce and overlooks the millions of Americans who gave up looking for a job, and that the market is at record highs because the fed has been supplying record liquidity for nine years right? 

FrozenGoodz's picture

So it didn't happen or ... ?

 

#CliffHanger

BlueHorseShoeLovesDT's picture

Giant Vix smack just in time

redtie's picture

But they told me on foxb last night to just bfd no matter what...what a shi*show

BigFatUglyBubble's picture

froth has come off the economy since the post-election bounce seen at the end of last year.

EVERYTHING IS AWESOME! JOBS JOBS JOBS! Zim Zim Zalabim, Alakazam, now everyone knows I'm a big fat sham. -DJT @realDonaldTrump — President Trump (@POTUS)

Ricki13th's picture

Damn that thing took a nose dive just like this economy is doing now.

Goldbugger's picture

They know it and a major WAR will start soon. You can deny reality for so long then have to face the facts.

khnum's picture

Well theres 90 million not gainfully employed in the economy so if we loose that many in a nuclear war we solve all our unemployment problems(sarcasm)

whatamaroon's picture

Did an interview with the BLS the other day -no job in 12 months, not looking. I added bad looking data that will come out the Friday the first week of the month. I didn't lie.

ALANBEEKMAN's picture

“The vast services economy saw the weakest monthly expansion for seven months .............

Oh no, where are all the thousands of recently graduated bar tenders and baristas gonna find work?

gdpetti's picture

2001 all over again.... will Mother Nature be our next 9-11 moment?