US Manufacturing Schizophrenia Continues - Best ISM Since Aug 2014, Worst PMI Since Dec 2016

US Manufacturing stumbled to its lowest since Dec 2016 according to the latest 'soft' survey from Markit, as respondents reported a "disappointing end to the second quarter, with few signs of growth picking up any time soon."  However, if ISM's seasonal adjustments are listened to, US Manufacturing just surged to its highest since Aug 2014... you decide.

Under the covers of the ISM data, everything is awesome...

 

Which is an oddly divergent picture from the one painted by Markit respondents... Commenting on the final PMI data, Chris Williamson, Chief Business Economist at IHS Markit said:

“Manufacturers reported a disappointing end to the second quarter, with few signs of growth picking up any time soon.

 

The PMI has been sliding lower since the peak seen in January and the June reading points to a stagnation – at best – in the official manufacturing output data.

 

“The survey’s employment index meanwhile suggests that factories will make little or no contribution to non-farm payroll growth in June.

 

“Forward looking indicators – notably a further slowdown in inflows of new business to a nine-month low and a sharp drop in the new orders to inventory ratio – suggest that the risks are weighted to the downside for coming months.

 

Any good news was saved for inflation, with price pressures easing substantially in June on the back of waning global commodity prices.”

It's probably transitory though...

Comments

John Law Lives Jul 3, 2017 10:51 AM Permalink

This sort of data barrage is double-bullish for the algos:weak PMI = bullish because of the possibility of more future easing...strong ISM = bullish because economy is clearly exploding higher...FUBAR_to_Hell

JTimchenko Jul 3, 2017 10:49 AM Permalink

The author of this article is making very little sense. How can he compare 2014 and 2016?  There is no conflict here. That said, the US economy is going to collapse if the Fed continues to raise rates, which it won't.

Insurrexion (not verified) Jul 3, 2017 10:21 AM Permalink

 Ever notice that few to none give a shit about the "data" from the fake Federal Reserve?

Give Me Some Truth Insurrexion (not verified) Jul 3, 2017 10:35 AM Permalink

I notice that gold and especially silver are being smashed ... again. The world is going to hell in a hand basket and the "safe haven assets" one buys to protect against this no one wants.I happen to think this is by design. The bottom line is that governments must be able to print and borrow in perpetuity. They would not be able to do this if people were acquiring "real money." So, to continue the status quo "they" MUST continue to attack sentiment for digital money's only competition. Apparently, the worse things get (the more U.S. states and territories default, the more retail businesses that go out of business, etc.) the worse gold and silver will perform. (And the better the stock market will perform).'Tis an "Alice in Wonderland" world we inhabit.

In reply to by Insurrexion (not verified)

Albertarocks Give Me Some Truth Jul 3, 2017 10:53 AM Permalink

Yeah, I'm afraid gold and silver won't really get going until the time arrives when the bankers have to react to a stock market crash.  No question, that crash is coming but right now we can't even imagine the panic that is going to ensue.  It will be the bankers' reaction to that crash and panic that really lights a fire under gold and silver.  At that point there will be no turning back for the PMs.In the meantime, I just look at today's smash as another in a long list of great opportunities to stack more gold, silver and mining shares.  I don't buy on margin these days so these banking bastards can slam it down as far as they want, they're not getting my money.  The same can't be said for investors who are buying on margin though.  Those people are the targets of these smashes.  You know how it works.. the bankers get their prey's nuts in the wringer and squeeze for all they're worth.  I sure know how it works because it used to work on me.  They prey on the emotions of fear and greed mercilessly.  Not anymore for me though and I'm doing better these days than I ever have.  And for one reason only... I don't use margin in a market that the bankers want lower.  That's all investors have to do... buy up some of these incredibly cheap mining stocks (not on margin) and sit back and enjoy an 8 year ride.

In reply to by Give Me Some Truth

Give Me Some Truth Albertarocks Jul 3, 2017 10:59 AM Permalink

Yep. We're trying to wait them out (until insanity is exposed and real markets return). Of course, they are trying to wait us out by rigging these markets and spreading all these bogus economic reports. If you (and your family) can wait, you definitely are being given a gift with these ridiculously low precious metal prices. Same with the shares. If you believe in "buying low," you've had an extended holiday. All of this said, the people who control the markets are SERIOUS about defeating you and me and making sure no one else starts to think like you and me.

In reply to by Albertarocks

Albertarocks Give Me Some Truth Jul 3, 2017 11:55 AM Permalink

Some loser gave you a down vote, which is his way of saying "I don't have any gold or silver or miners but I really like whiskey a lot".  I can definitely wait the manipulators out.  In fact we can even beat them at their own game a little bit even as they drive prices lower.  I usually hold shares in about 25 mining companies.  Not a lot of capital in any particular one though because I like to create options for myself.  For example, on some days I might have a stock that shoots up 15% and a different one that drops 12%.  If the charts agree, I'll peel about 40% of my holdings from the stock that went higher and put that money into more shares of the one that dropped.  6 weeks later, they reverse and I'll do it again (constantly striving to have a relatively constant balance in the 'weightings' in my fund).  I'm not spending any more of my money but I'm collecting a hell of a lot more shares cheaper and cheaper as time goes on.  F**k 'em... they're trying to steal my money but I'm kicking their ass while relaxing on my deck with a coffee.  The older I get the better my life is going thanks to these banking assholes who are trying to rob us all.It's pretty obvious just by your commentary that you're going to do reall well.  There... I "gave you some truth".I wish you the very best :-)

In reply to by Give Me Some Truth

Give Me Some Truth Crypto-World-Order (not verified) Jul 3, 2017 11:03 AM Permalink

States and one U.S. territory starting to default and declare bankruptcy, a retail "apocalypse" that promises to have cascading consequences, the threat of major wars in about seven countries, a "debt ceiling" that may or may not be increased and ... gold promises to drop even more?You are probably right. I'm just one lonely poster pointing out how bizarre this "reality" is.

In reply to by Crypto-World-Order (not verified)

GodHelpAmerica (not verified) Jul 3, 2017 10:19 AM Permalink

Draghi: "...We will do whatever it takes"

Yellen: "We will never have an economic crisis again in our lifetime"

This of course implies--among a litany of anti-free market principles-- fabricating economic data.

Fisherman Blue Jul 3, 2017 10:19 AM Permalink

She moved into the whitehouse dim dick. Even if your shit were true it happens all the time. Do you think that is as bad as Obama sucking reggies dick and married to a tranny? 

tbone10 (not verified) Jul 3, 2017 10:08 AM Permalink

Another nothingburger Story by Turden but this shit is real here CNN has an exclusive coming out tonight 8 p.m. don't miss it.“But here it is: word is, for many years, Melania’s been having an affair with the head of security at Tiffany’s in the Trump Tower lobby…with DT’s knowledge. They had an agreement (written, I think) that if DT lost the election, they’d get divorced. But then he won. So they had to renegotiate the agreement. She is imprisoned in that marriage for as long as he’s president. Again: this is kind of obvious already to anyone with eyes. Melania looks miserable. But this would be a broader illustration of why. Also it’s why she doesn’t leave New York.”