Loading ...US Manufacturing PMI Drops, Biggest Miss On Record
Tyler Durden’s pictureSubmitted by Tyler Durden on 07/24/2014 09:50 -0400
But, but, but… the rest of the world’s PMIs are soaring as soft-survey data trumps any hard data facts. US Manufacturing dropped from 57.3 to 56.3 despite analysts that were convinced it should rise further to 57.5. This is the biggest miss on record, and the 2nd miss in a row. In spite of soaring markets proving the recoverty is just picking up and accelerating, new export orders weakened, manufacturing production fell, input costs surged, and employment tumbled to 10-month lows. But, stocks are surging on this dismal news…