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“Widespread Reticence To Take On Extra Staff” Despite US Manufacturing PMI At 1 Year High As Inflation Soars
zerohedge.com / by Tyler Durden / Nov 1, 2016 10:03 AM
Despite a final October print for PMI at 53.4 (highest since Oct 2015), US manufacturers remain skeptical and, as Markit notes, “hiring is also being subdued partly by worries about escalating costs, with the October survey recording the largest monthly rise in factory prices for five years.” Following disappointments from regional Fed surveys (Dallas and Chicago notably), ISM Manufacturing rose to 51.9 (with prices paid rising and new orders tumbling).
Both ISM and Markit surveys of US manufacturing improved in October…
ISM Breakdown shows prices rising and orders falling (and a drop in inventories is not helpful for Q4 GDP). Overall, four components declined, among which New Orders, while 6 rebounded, including Prices, suggesting to potential stagflation should growth not follow:
- New orders fell to 52.1 vs 55.1
- Employment rose to 52.9 vs 49.7
- Supplier deliveries rose to 52.2 vs 50.3
- Inventories fell to 47.5 vs 49.5
- Customer inventories fell to 49.5 vs 53.0
- Prices paid rose to 54.5 vs 53.0
- Backlog of orders fell to 45.5 vs 49.5
- New export orders rose to 52.5 vs 52.0
- Imports rose to 52.0 vs 49.0
The post “Widespread Reticence To Take On Extra Staff” Despite US Manufacturing PMI At 1 Year High As Inflation Soars appeared first on Silver For The People.
Source: http://silveristhenew.com/2016/11/01/widespread-reticence-to-take-on-extra-staff-despite-us-manufacturing-pmi-at-1-year-high-as-inflation-soars/
