The May ISM Manufacturing Survey shows nothing in manufacturing is shrinking again. The composite PMI grew to a now safe 52.8% after a 1.3 percentage point increase. Manufacturing employment came out of contraction as did inventories. Exports move to no change. Prices are still decreasing but not by much anymore. Overall the report is a relief that things are not so bad.
The Federal Reserve Industrial Production & Capacity Utilization report shows industrial production decreased -0.3% as gas and oil well drilling continues to collapse. Overall mining contracted a very large -0.8%. Manufacturing was unchanged. March also showed a -0.3% industrial production change. This if the fifth month in a row for a loss.
The April ISM Manufacturing Survey PMI had no change from March and is still a barely breathing growth of 51.5%. Manufacturing employment went into contraction as did inventories. Exports improved as did new orders and production. The worse news of the ISM manufacturing report is employment.
The Federal Reserve Industrial Production & Capacity Utilization report shows industrial production decreased -0.6% while January was revised downward to a -0.4% decline. February showed a measly 0.1% increase, so overall the first quarter looks bleak Annualized Q1 showed a -1.0% decline and such a contraction has not happened since Q2 2009.
The March ISM Manufacturing Survey shows manufacturing is barely breathing growth as a monthly -1.4 percentage point decline put PMI near the contraction edge. PMI is now 51.5% and if the index falls below 50%...that's contraction. The reason for the slide was supplier deliveries, which were more streamlined indicating less to ship and slower manufacturing hiring.
The Federal Reserve Industrial Production & Capacity Utilization report shows industrial production increased 0.1% while January was revised downward to a -0.3% decline. December was also revised down to -0.2%. Manufacturing alone declined by -0.2% and January's manufacturing production was also revised downward from +0.2% to -0.3%.
The Federal Reserve Industrial Production & Capacity Utilization report shows industrial production gained 0.2% in January. There were also revisions back to August with all but one month revised downward. December was revised to a -0.3% decline and November's blow out was toned down to 1.1% growth increase. Manufacturing alone grew by 0.2% and utilities jumped up 2.3% in January on weather.
The BLS employment report is another good showing for payroll jobs as growth was 257,000. January is the month of revisions and November 2014 is now a 423,000 jobs added blowout with December 2014 not far behind with 329,000 jobs added. We're on year eight after the start of the great recession and 2014 is finally when America started seeing some jobs growth.
The January ISM Manufacturing Survey shows manufacturing is still expanding, abet at an even slower pace than December. PMI dropped by -1.6 percentage points to 53.5% Everything was down this month, new orders especially declined. While technically not showing a contraction, the ISM overall message tells us American manufacturing is close to running idle.
The December ISM Manufacturing Survey shows manufacturing is still expanding, abet at a slower pace than November. PMI dopped by -3.2 percentage points to 55.5%. New orders caused the overall decline and by themselves slid down -8.7 percentage points to go below the 60's level.
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