Posted on 08/17/2019 5:25:27 PM PDT by 2ndDivisionVet
ISM manufacturing index falls below 50, signals contraction
Yep...downtrend in manufacturing, but this is first contraction in several years.
Also the PMI index from last month was revised up over 50 and the most recent monthly was also above 50...so nowhere near a manufacturing recession until we get 2 quarters of negative growth....(remember, not declining output)
but, yes the trade war, Fed raising rates and the Boeing orders declining due to faulty mechanics on one model...all making it look worse. Keep in mind that manufacturing only about 15-18 percent of our overall GDP at this time.
Great numbers today on non-manufacting PMI...also ADP jobs looks good as well. I don’t see any recession for 2-3 more years. And if the Fed cuts rates and the Chinese agree to quit stealing everything...maybe not for 4-5 years.
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