economy Markets

‘Greatest Economy In History’ Weirdly Spits Out Worst ISM Manufacturing Number In A Decade

"The envy of the world".

Those hoping for a rebound in ISM manufacturing after August's contractionary print were disappointed on Tuesday - and "bigly". The closely-watched gauge of factory activity printed just 47.8 for September. That missed every estimate from 69 economists. The range was 48.2 to 52. It's the lowest read since June of 2009, and would appear to cast still more doubt on the notion that the US economy is "the greatest in the history of our country", as Donald Trump declared, on Saturday. Employment fell to 46.3, the lowest read since January of 2016, while supplier deliveries, inventories and backlogs all declined. New export orders printed 41. “Global trade remains the most significant issue, as demonstrated by the contraction in new export orders that began in July 2019", ISM's Timothy Fiore said. "Overall, sentiment this month remains cautious regarding near-term growth". As a reminder, the final read on September University of Michigan sentiment showed Americans are now back to being terrified of "tariff" man. The trade war has knee-capped manufacturing sentiment abroad, and the latest ISM numbers are the latest evidence that the US is no longer immune now that the fiscal i
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6 comments on “‘Greatest Economy In History’ Weirdly Spits Out Worst ISM Manufacturing Number In A Decade

  1. John Serwach says:

    How, if at all, Did the GM strike impact this?

  2. FuriousA says:

    So if he believes impeachment is a real threat to his continuing in office, does Trump:

    1) sign a BS trade agreement with China and hope to boost the US economy in order to get reelected and buy more time to cover his crimes?


    2) continue to tank the economies of Russia’s two biggest rivals and hope somehow his overlord comrades can save him?

  3. FuriousA on #1 I don’t think he’ll ever have enough time to cover his crimes because the crimes seem to be increasing.

    on #2 You think he’ll be able to retire to the Trump Dacha outside Moscow? And play golf with the oligarchs?

  4. vicissitude says:

    Working on ways @ FRED to show Fed reserves or activity as it relates to GDP growth (or decay). The concept that “real” QE did very little to stimulate “real” growth may have to be weighed against the nebulous concept of stability, so what is stability, beyond the idea that corrupt junk corporations were bailed out and allowed to have a second chance to fleece taxpayers? What economic benefit was obtained by saving failed banks and companies that literally took their stimulus and invested it into more benefits for insider pirates? Thus, how will a new series of QE steps provide growth that is tangible and sustainable … maybe sustainable isn’t a real function but what return can be quantified? As a society don’t we want more than just sustained corruption and ineptitude, e.g., MAGA as a baseline for total bullshit and corruption, which a small group of people support, because either they’re corrupt or really F’ing stupid????

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