Stagflation Shock: ISM Shows Input Costs Soaring At Fastest Since 2011
by Tyler Durden
ZeroHedge.com
Feb 1, 2017
Input cost inflation is soaring at its highest since September 2014 according to Markit’s US Manufacturing PMI survey (which surged in January to 55.0 – slightly less than the 55.1 prelim print – the highest since March 2015). New orders accelerated but employment slipped and despite the surge in costs, factory gate charges increased only modestly. Despite disappointing ‘hard’ data from durable goods, ISM survey data confirms the bounce (highest since 2014) but Prices Paid spiked to its highest since 2011 (and export orders dropped).
Hard vs Soft data… ISM CEO Holcomb summed it all up perfectly: ISM GAIN DRIVEN BY HOPES, EXPECTATIONS UNDER TRUMP
The Rest…HERE
