US Manufacturing PMI Plunges To Lowest Since 2012 As Factory Orders Collapse To 2009 Lows
by Tyler Durden
ZeroHedge.com
12/16/2015
Following the collapse in industrial production, it is no surprise that Markit’s Manufacturing PMI has plunged to 51.3, its lowest since October 2012. Under the surface it is a disaster with production volume growth the softest since October 2013, and new orders crashed to worst since September 2009. Finally, don’t shurg this off, although manufacturing only accounts for around one-tenth of the economy, the Manufacturing PMI exhibits a high correlation of 77% with GDP as industrial activity has an important cyclical impact on other parts of the economy.
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