“Manufacturing Is Far From Booming” – PMI Drops Despite Surge In ISM New Orders
by Tyler Durden
ZeroHedge.com
Mar 1, 2017
With real spending declining and core durables goods orders and shipments fading, it’s perhaps not a surprise that Markit PMI Manufacturing turned lower in Feb to 54.2 (missing expectations) with their chief economist warning “manufacturing is far from booming.” Of course, just as with China, ISM provided an opposite perspective on US Manufacturing, beating expectations and rising to Aug 2014 highs.
This largely reflected a moderation in new order growth from January’s 28-month peak, alongside a slightly softer increase in output volumes. Meanwhile, manufacturers reported a sustained rise in inventory levels, which was linked to greater production schedules and expected improvements in client demand.
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