The undershooting in April largely reflected excess inventories, which may keep keep a lid on the upturn in production in coming months. Posted on 05/04/2016 4:23:47 AM PDT by expat_panama
The Institute for Supply Management manufacturing index eased to 50.8 in April from 51.8 in March, but it remained positive for a second straight month.
Economists had predicted a slight decline to 51.5 amid less-robust reports on regional manufacturing activity last month. Readings above 50 indicate expansion, while those below 50 point to contraction.
The undershooting in April largely reflected excess inventories, which may keep keep a lid on the upturn in production in coming months.
But the good news for U.S. manufacturing and for corporate earnings is that the dollar continues to lose ground. The U.S. dollar index edged lower Monday after ending the week at its weakest close since January 2015, down nearly 7% from its first-quarter high. The euro rose above $1.15 to the dollar for the first time since August. The Japanese yen is at 18-month highs.
[snip]
Still, economists expect that sales bounced back in April to a 17.3 million annual pace. Automakers including Ford (F) and General Motors (GM) are due to report U.S. sales on Tuesday. Ford and GM shares rose fractionally in afternoon action.
Separately, the Commerce Department reported that construction spending rose 0.3% in March. Private construction rose 1.1% from February and 8.5% from a year earlier. New single-family home construction was reported to be flat in March, while multi-family construction outlays jumped 5.6% on the month and 34.6% from a year before.
The weak spot in the report was public construction, which fell 1.9% from February but was still up 6.7% from a year earlier. For the first quarter as a whole, infrastructure spending has been on the rise, thanks to the ramping up of the Fixing America’s Surface Transportation Act, passed late in 2015.
(Excerpt) Read more at investors.com ...
Well just saying.
Our trade deficit with China, is at a new all-time record high as of last year.
All time record high.
And our exports to China, actually fell last year. So I see no reason for your assertion, from that side.
Sure, because the consumers with jobs are all overseas now...
So, what?
Happy Mid-week and futures traders say SELL EVERYTHING!!! Yesterday's return of stocks to their "losing ways" --a % drop in rising volume-- is morphing into a sell off. Maybe it's all the uncertainty both in politics in general along with today's announcements in particular:
7:00 AM MBA Mortgage Index
8:15 AM ADP Employment Change
8:30 AM Productivity-Prel
8:30 AM Unit Labor Costs - Prel
8:30 AM Trade Balance
10:00 AM Factory Orders
10:00 AM ISM Services
10:30 AM Crude Inventories
Then again, maybe everyone's wrong. Some ecib articles that need posting on the FR:
Again.Are Democrats Bailing On ObamaCare, Too?
Betsy McCaughey: Trump Campaign Shows Its Policy Chops
I Want a President Who Can Teach Us to Accept Capitalism
Last year: -365 billion
2014: -343 billion
2013: -318 billion
2012: -315 billion
2011: -295 billion
2010: -273 billion
2009: -226 billion
2008: -268 billion
2007: -258 billion
2006: -234 billion
2005: -202 billion
2004: -162 billion
I don’t know about you, but I’m getting darned sick and tired, of people sending American manufacturing to China, without getting markets back in return.
Go Trump.
Time for the illegal immigrant welfare clock.
Every illegal costs somewhere more than $100,000 per year per person in welfare, healthcare, education, subsidized housing, law enforcement, etc.
Trump needs a clock like the debt clock, racking up the costs as each illegal crosses the border. Estimates of course.
Good idea, seems to me.
Send it to Trump on twitter @realDonaldTrump
It can’t hurt to present your idea for consideration.
I don’t do twitter. Adopt it as your idea and see what happens.
Re: “I’m getting darned sick and tired, of people sending American manufacturing to China, without getting markets back in return. Go Trump.”
You and The Donald are fighting the last economic war.
The next economic war will be our robots and our AI against the world’s robots and AI.
In the long run, robots and AI will produce undreamed of wealth, probably for a populace where 50% or more of adults will never work in their entire lives.
In the short run, it will be economically chaotic, and militarily dangerous.
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