ISM mfr’g for Aug at 49.6 was a touch below expectations of 50 and thus remains slightly below 50 for a 3rd straight month. New Orders fell to the lowest since Apr ’09 at 47.1 from 48 in July. Backlogs dropped a 1/2 pt to 42.5. Export Orders remained below 50 for a 3rd month but rose .5 to 47. Employment fell to 51.6 from 52.0, the weakest since Nov ’09. Inventories at the mfr’g level rose 4 pts to 53 but fell slightly at the customer level to 49. Prices Paid rose 14.5 pts to 54, a 4 month high. Of the 18 industries surveyed, 8 reported growth, 8 contraction and 2 saw little change. The ISM summed up the report by saying this, “Comments from the panel generally reflect a slowdown in orders and demand, with continuing concern over the uncertain state of global economies.” The quote sums up things well as many businesses are not only dealing with a moderation in order growth, led by weakness overseas but also very little visibility on how things will turn out economically particularly in Europe and with the US election.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.