US Manufacturing Plunges To 2-Year Lows As New Orders, Employment Tumble
by Tyler Durden
ZeroHedge.com
09/01/2015
Following disappoint PMIs from around the world, the US decoupling meme took another knock today as Markit PMI printed 53.0 (from 53.8) – its lowest in almost 2 years, led by a plunge in the employment subindex. Weakness was also evident in new factory orders. As Markit notes, “U.S. manufacturing sector continues to struggle under the weight of the strong dollar and heightened global economic uncertainty.” On the heels of Milwaukee and Dallas Fed weakness, ISM Manufacturing printed a disastrous 51.1 (vs 52.5 expectations) – the lowest since May 2013. Employment tumbled, as did New Export ordedrs, but unadjusted New Orders plunged to its lowest since 2013, which is a problem given the massive inventory builds that have saved the world in the last few months.
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