Not decoupling-er. Completing this morning's triple whammy of ugliness, US construction spending in December dropped 0.3% (against expectations of a 0.4% rise) - the biggest monthly drop since June. On the back of a crash in new orders from 66.0 to 57.3 (and prices paid plunging to 30 month lows), ISM Manufacturing also tumbled from 58.7 to 55.5 - its lowest since June (missing expectations by the most since January). Unable to find a silver lining, ISM's Holcomb proclaimed "comments are a 'bit mixed'".
ISM at 6-month lows...
[2]
As Prices Paid collapses...
[3]
and Construction Spending tumbled far more than expected...
[4]
Charts: Bloomberg
