Posted on 08/01/2024 10:01:53 AM PDT by lasereye
ISM Manufacturing PMI retreated to 46.8 in July, the 48.8 consensus, from 48.5 in June.
That marks the 20th time in the last 21 months in which economic activity in the manufacturing sector contracted (Note a reading below 50 signals economic contraction). The index now has been in contraction terrain for four straight months.
With new orders falling further into contraction, "demand was weak again, output declined, and inputs stayed generally accommodative," said Timothy R. Fiore, chair of the ISM Manufacturing Business Survey Committee.
Employment: 43.4 vs. 49.3 prior.
Prices: 52.9 vs. 52.1.
New orders: 47.4 vs. 49.3.
Production: 45.9 vs. 48.5.
Supplier deliveries: 52.6 vs. 49.8.
Inventories: 44.5 vs. 45.4.
(Excerpt) Read more at seekingalpha.com ...
I posted here that new applications for unemployment benefits have increased to an 11-month high.
The signs of a recession are accumulating. I would guess we will be told we are in one sometime next year. Some people contend we are in one already.
isms are down?
some were expecting a rate cut yesterday and if we get more weak numbers like this, perhaps the Fed will cut between meetings. there’s a lot of economic softness developing.
What meaneth the abbreviations?
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