Sunday , June 16 2019

American manufacturing activity just dropped to its slowest pace since Trump took office

A measure of manufacturing activity fell last month to its lowest level since President Donald Trump took office.
Businesses and industry groups have said…
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  • Dallas Fed manufacturing activity index for May 2019
    The six-month ahead general is this activity index 9.1 versus 18.4 last month. The six-month averages 12.4.
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  • US manufacturing data
    – Prior was 52.8
    – Lowest since Oct 2016
    – Employment 53.7 vs 52.4
    – Prices paid 53.2 vs 50.0 exp
    – New orders 52.7 vs 51.7 prior
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  • The PMI data leaked out early:
    Here is the full suite:
    Manufacturing Purchasing Managers Index (PMI), 49.4Non -manufacturing (services) Purchasing Managers Index (PMI), 54.3Composite Purchasing Managers Index (PMI), 53.3On the manufacturing PMI, not only did it come in a sharp drop on the month and below the central estimate, it also came in below estimates (from the
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  • I popped the SK manufacturing PMI results onto the end of the japan post:
    But, ICYMi:
    PMI manufacturing fell to 48.4
    – from 50.2 in April
    – New export orders contraction for a 10th straight month
    Awesome work from the trade war people. 
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