US Manufacturing Plunges To 7 Year Lows As PMI “Dashes Hope That Q1 Weakness Was Temporary”
by Tyler Durden
ZeroHedge.com
04/22/2016
Following Japan’s record low PMI, Europe’s modest pick-up, and China’s bounce, this week’s Philly Fed crash was more indicative as US Manufacturing (flash) PMI printed 50.8 (from 51.5 in March and notably missing 52.0 expectations). This is the lowest print since September 2009 with New Orders sliding (weakest since Dec 2015), and Employment at its weakest since June 2013. As Markit notes, “US factories reported their worst month for just over six-and-a-half years in April, dashing hopes that first quarter weakness will prove temporary.”
The Rest…HERE
