The Durable Goods advance report shows the impact Covad-19 is starting to have on the economy. New orders dropped by -14.4% as transportation orders plunged 41% in a month. Shipments also were negative with a -4.5% drop. The airline industry is obviously decimated as the nondefense new orders for aircraft and parts sank by a whopping -295.7%!
The April 2016 ISM Manufacturing Survey is a ho-hum month of manufacturing molasses. While in growth, Manufacturing is barely so and inventories are in their 10th month of contraction. PMI was 50.8%, -1.0 percentage point lower than March. New orders dropped -2.5 percentage points but are still in growth. Manufacturing Employment is still contracting and has been for five months.
The Durable Goods, advance report shows another decline in manufactured durable goods new orders for February. New orders dropped by -2.8% and has been down three of the past for months. February shipments also were negative with a -0.9% drop. Core capital goods new orders by themselves declined by -1.8%. Without transportation new orders, which includes aircraft, durable goods new orders would have decreased by -1.0%.
The February 2016 ISM Manufacturing Survey is yet another month of manufacturing malaise. Manufacturing is in a 5th month of contraction, although much less so than last month. PMI was 49.5%, 1.3 percentage points higher than January.
The January 2016 ISM Manufacturing Survey is yet month of awful. Manufacturing is in a 4th month of contraction. This time is a smidgen better than December. PMI was 48.2%, 0.2 percentage points higher than the previous revised month. New orders did come out of contraction, but barely, while employment continued to plunge. Only eight sectors showed any growth according to the survey.
The Durable Goods, advance report shows new orders just jumped off of a cliff in December. New orders plunged -5.1% and even worse, November new orders was revised down to -0.5%. Not to be outdone, December shipments is also horrific with a -2.2% drop. Core capital goods new orders also plunged by -4.3%. Without transportation new orders, which includes aircraft, durable goods new orders would have decreased by -1.2%.
The December ISM Manufacturing Survey is yet another awful month. Manufacturing is in a second month of contraction and this time slightly deeper than November. PMI was 48.2%, -0.4 percentage points lower than the previous month. New orders is still in contraction and employment plunged and went into contraction. Only six sectors showed any growth according to the survey.
The November ISM Manufacturing Survey is truly awful. It shows the manufacturing sector has just gone into contraction. This is after months of warning as growth stuttered. PMI was 48.6%.
The September ISM Manufacturing Survey shows yet more deceleration of the manufacturing sector. While a PMI of 50.2% is still growth, it is barely growth. The composite PMI decreased by -0.9 percentage points and new orders decreased by -1.6 percentage points. Order backlogs truly imploded.
The August ISM Manufacturing Survey shows more deceleration of the manufacturing sector. While a PMI of 51.1% is still growth, the decline in new orders is disconcerting. The composite PMI decreased by -1.6 percentage points and new orders decreased by -4.8 percentage points. Overall the report really shows a weakening manufacturing sector.
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