Πηγή: MarketWatch
By Steve Goldstein1/08/2011
WASHINGTON — U.S. manufacturing activity barely grew in July, according to a key index released Monday in a demonstration of an economy struggling to expand.
The Institute for Supply Management’s manufacturing gauge in July dropped 4.4 points to 50.9%, the worst reading since July 2009 and barely staying above the 50% no-change line.
The index came in far below a MarketWatch-compiled economist poll of 54.3%. U.S. stocks slumped after the ISM report, with the Dow industrials DJIA -0.44% recently down by 35 points.
Since April, the ISM index has slumped 9.5 points, the worst three-month dip since the September-to-November 2008 period when Lehman Brothers collapsed.
The new orders index fell into contractionary territory for the first time since June 2009, and indexes for prices and employment in particular saw big drops. The prices index has dropped a stunning 26.5 points over the past three months. The employment gauge fell 6.4 points to 53.5%.
“The bottom line is simply that the economic recovery is continuing to falter,” said Millan Mulraine, senior U.S. macro strategist at TD Securities.
“To be sure, this is only one report. However, given that stellar historical track record of this indicator in tracking economic activity it is pointing to a further disconcerting negative turn in the trajectory of the recovery.”
Similar gauges released across the globe pointed to deteriorating if not contracting conditions.
One of the worst came from Brazil, where the HSBC Brazil manufacturing PMI fell in July to 47.8, the second consecutive month below the 50 no-change line and the worst reading since May 2009. China, Russia, the U.K., Spain and Greece also reported sub-50 readings. See story on Chinese data.
One of the respondents to the ISM survey noticed a similar trend.
“With products sold internationally, the business conditions we are currently experiencing are declining from abnormally [high] record-breaking levels,” said one manager in the machinery industry. “Business conditions are currently flattening to more normal volumes, while trending slightly downward.”
The Institute for Supply Management’s manufacturing gauge in July dropped 4.4 points to 50.9%, the worst reading since July 2009 and barely staying above the 50% no-change line.
The index came in far below a MarketWatch-compiled economist poll of 54.3%. U.S. stocks slumped after the ISM report, with the Dow industrials DJIA -0.44% recently down by 35 points.
Since April, the ISM index has slumped 9.5 points, the worst three-month dip since the September-to-November 2008 period when Lehman Brothers collapsed.
The new orders index fell into contractionary territory for the first time since June 2009, and indexes for prices and employment in particular saw big drops. The prices index has dropped a stunning 26.5 points over the past three months. The employment gauge fell 6.4 points to 53.5%.
“The bottom line is simply that the economic recovery is continuing to falter,” said Millan Mulraine, senior U.S. macro strategist at TD Securities.
“To be sure, this is only one report. However, given that stellar historical track record of this indicator in tracking economic activity it is pointing to a further disconcerting negative turn in the trajectory of the recovery.”
Similar gauges released across the globe pointed to deteriorating if not contracting conditions.
One of the worst came from Brazil, where the HSBC Brazil manufacturing PMI fell in July to 47.8, the second consecutive month below the 50 no-change line and the worst reading since May 2009. China, Russia, the U.K., Spain and Greece also reported sub-50 readings. See story on Chinese data.
One of the respondents to the ISM survey noticed a similar trend.
“With products sold internationally, the business conditions we are currently experiencing are declining from abnormally [high] record-breaking levels,” said one manager in the machinery industry. “Business conditions are currently flattening to more normal volumes, while trending slightly downward.”
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