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Chicago PMI Misses, Prints At 60.2, Down From 62.2, Dashes Hopes For Rebound
And so, the predicted gradual softening of the economy is starting to materialize in order to fit with the Chairman's world view (and to set the stage for QE X with a healthy helping of LSAPs). The January Chicago PMI just printed at 60.2, missing expectations of an increase to 63, and down from December's 62.2. And it gets worse: the employment index was the lowest since August at 54.7, while the order backlog number came at 48.2, the lowest since October 2009. This also means that the upcoming manufacturing ISM will also likely be a miss. What recovery again? Or is it China's turn to bail out the world all over again.
- New orders 63.6 in Jan. after 67.1 in Dec.
- Production 63.8 after 64.9
- Backlogs 48.3 after 57.3
- Inventories 51.6 after 52.0
- Employment 54.7 after 59.2
PMI:
and Employment:
Here is what the respondents are saying:
- Our customers projected production levels are to increase substantially the next two years. There is still an issue of capacity at the mills and refineries to support this increase.
- The amount of orders and machines we are building are UN-characteristically slow in the 4th quarter and going into the 1st quarter of 2012. Not sure why, but it is.
- Because our customers are prime defense and aerospace contractors business has declined because of a lack of a federal budget.
- Backlog of orders remains at near record levels going back more than 20 years. Quotes remain strong -- looks like another record year. Pricing for raw material may be starting to increase.
- Steel prices flat year on year, decreases in most chemicals make for a great start in 2012. Despite lower sales volume, profitability is strong due to tight control & strong purchasing performance.
- The talk indicates a busy quarter, but there seems to be some hesitations when it comes to getting the releases or orders out.
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A Ron Paul Dollar???
http://djia.tv/ron-paul/do-we-need-a-gold-backed-ron-paul-dollar/
GOLD, Bitchez...
The republican establishment must have told Kudlow to kiss Ron Paul's ass. He sounded favorable to Ron Paul's message, and I don't ever recall Kudlow being a gold guy.
Wow, Backlog of orders remains at near record levels going back more than 20 years.
Sounds like a RobotTrader comment.
This is all good Tyler. If the Chicago PMI had printed higher than expected, stocks would have roared because it was a sign of the recovery. If it had printed lower, like it did, stocks will roar because more intervention is sure to come.
Win/win baby.
/sarc
FINVIZ reporting BG sold 450,000,000 $ of MSFT last week
The market is down on this news??? Don't they know that in Fed speak good is good and bad is better? Financials should be roaring because this mean more free money!!!
Chicago pffff.
Rumor has China printing a much better PMI number 52.5 vs 49.6 expected.
Also there is QE3, QE4 and QE5 to come.
#BTFD
Most of US GDP growth over the last couple of years was from inventory restocking. Now that consumers aren't willing to spend because of jobs/financial_uncertainty, and structural unemployment (need new data on any shifts in marginal propensity to spend), we have reached a tipping point in the inventory cycle.
It's likely downhill from here (market top late Feb), unless more free money is pumped into the economy. Or Gingrich is elected and we colonize the moon.
Moon jobs will be a hot market. /sarc
The Baltic Dry Index is dropping like a stone since about a month and the 2008 low is about to be taken out.
Inventory restocking probably helped to keep the index up but no longer. China is landing hard. Greece is about to default. Spain unemployment is rallying up (!). Nice convergence of disasters.
This must be it. Endgame bitchez! By the way, where is everyone today?
At the rate the euro is dropping the Stolper trade will be done in about 2 1/2 hours.
The amount of orders and machines we are building are UN-characteristically slow
yeah....sort of the same way a turtle is UN-characteristically slow.............
+1
LMAO
Family Guy Funny Moments (Part 1)
http://www.youtube.com/watch?v=Xm4uIkLgMuo (2:58)
~//~
Idiocracy Short Clip UN
http://www.youtube.com/watch?v=DueSvcjn810 (0:25)
Should be bullish for stocks though I'm sure.
meanwhile here in peoples republic of Maryland our good gov peace be on him is trying to raise the sales tax by 17% and gasoline tax by 16%..a good democrat he is only using the most regressive taxes on the poor..
he is very close to Obuma perhaps this a trial for a national move??
Well if you want all the social programs..you have to pay for them....and everyone should pay for them....everyone...
And by social programs you mean bankrupt green energy companies, who got DOE funding?
Odd that selling your products below COGS bankrupts one.
But the CBO just came out with great numbers.....deficit of only 1.1 trillion....of course they will change them...its an election year...but what is the Food stamp number doing...going down....???? I doubt it....
Golden cross this golden cross that. Bullish this bullish that. We have got to get obamney elected.
Sell the golden cross....buy the death cross.
Then say 10 hail mary's and do 3 tequilla shots.
WWTD
What Would Tebow Do?
this went right over slewie's head, C_D
i'm thinkin: join the CFL? learn how to skate?
maybe i'll stop laughing soon...
This kind of PMI report in the face of such a weak recovery takes on the domensions of a Greek tragedy in the minds of true believers.
O, Agamemnon!
This is all teeing up the 3pm levitation rumor. What will it be? Let's see...Greece bailout #93 (nah, too obvious), Soros recants last week's sound bite (nope, too soon for double-speak), TOTUS gives unannounced calming statement (can't happen on FL primary day),...
hmmm...this one might require JP or Goldman intervention.
the only thing "growing" today is tyler's sarcasm about "growth" L0L!!!
funny, tho! first on the caseShiller#z now, this, and i see where there is a new piece about the unemployment number this election year, from the congressionalBudgetOffice for our trifecta: housing/PMI/employment has all "long-shot winners" and the "pub(e)lick" and its "handicappers"
fringe handicapping, BiCheZ!
The layoffs will continue until...
...everyone is employed by Amerika.
sarc on/off, I'm not sure I care anymore.