US Manufacturing’s Hurricane-Rebound Is Over: New Orders Sink, Costs Soar
by Tyler Durden
ZeroHedge.com
Dec 1, 2017
The brief rebound in US manufacturing after the hurricanes appears to have ended as Markit’s PMI dropped from 54.6 to 53.9 as new orders slowed amid soaring inflation. For once ISM Manufacturing also agreed with PMI – dropping to its lowest since July – with employment and export orders sinking.
While new orders slowed, the most notable item in the PMI data was that inflation is surging…
Average prices charged by manufacturers rose further in November, with the pace of inflation accelerating to the fastest in almost four years.
Anecdotal evidence suggested the increase was due to greater cost burdens which were largely passed on to clients.
Input price inflation also quickened since October and was steep overall. Survey respondents commonly stated that components costs rose due to logistical delays.
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