ISM Miss Add To Economic Collapse Woes: 5 ISM Sub-Indices In Contraction Territory

Tyler Durden's picture

Just in case someone did not get the earlier BLS-doctored message, the final two economic indicators of the day just printed and were... drumroll... misses. Because remember: not only the 1%ers but the 99ers have to be begging Bernanke to print. And so he will: ISM Manufacturing prints at 53.5, down from 54.8, and expectations of 53.8. Prices Paid plunge by 13.5, but the kicker: 5 out of the ISM's 10 sub indices are now in contraction territory.. And the cherry on top: Construction Spending unchanged from an upward revised 0.3 to 0.3, obviously, missing expectations of a jump to 0.4. Looking forward to the Tim Geithner Op-Ed: "Welcome to the recession."

ISM Prices Paid Index - huge miss and biggest drop in 7 months.

The ISM Table: note the sub 50 prints.

Oddly enough, prices paid plunges and yet...

Commodities Up in Price

Aluminum; Copper; Electrical Components; Guar; Natural Gas; Plastic
Components* (3); Plastic Resins* (4); and Transportation Costs* (2).

And the always handy respondents:

  • "Business has been trending moderately higher since the beginning of
    the year. [We] anticipate 5 percent to 7 percent growth for the year."
    (Chemical Products)
  • "Sales were stronger than expected; customers are waiting until the last minute to place orders." (Machinery)
  • "We are having the best year in sales volume and profit since mid-2008." (Fabricated Metal Products)
  • "Business seems to be holding steady." (Miscellaneous Manufacturing)
  • "We had modest growth across most of our businesses, with stable raw
    materials [prices] and improved schedules and efficiency in our
    operations." (Textile Mills)
  • "Business is lower than forecast for Q2 2012." (Computer & Electronic Products)
  • "We are seeing overall steady improvements, month over month and year over year." (Apparel, Leather & Allied Products)
  • "Business is steady." (Food, Beverage & Tobacco Products)
  • "While not quite as busy as last month, production is steady and year over year still much better." (Transportation Equipment)
  • "Business continues to be up in general." (Furniture & Related Products)