Posted on 06/23/2014 10:47:59 AM PDT by blam
June 23, 2014
Sam Ro
U.S. manufacturing activity is at its highest level since May 2010.
According to Markit, the U.S. Flash manufacturing purchasing managers index (PMI) unexpectedly jumped to 57.5 in June from 56.4 in May.
"U.S. industry is booming again," said Markit's Chris Williamson.
"The latest rise in the headline PMI was driven by the fastest output and new orders growth for just over four years," reported Markit.
Economists surveyed by Bloomberg expected this activity index to fall to 56.0.
Here are the key points from Markit: •Output and new orders rise at faster rates in June •Solid increase in payroll numbers •Cost inflation hits five-month high
"The strong reading also rounds off the best quarter for factories for four years, adding to indications that the US economy rebounded strongly in the second quarter from the weather-related weakness seen at the start of the year," said Williamson. "The survey data suggest that GDP should be set to rise by at least 3.0% after the 1.0% decline in the first quarter."
(snip)
(Excerpt) Read more at businessinsider.com ...
Heh. “Unexpected” is all I’ve been hearing from the DBMs for the past 2-3yrs. They’re doing quite a prep job.
I want it to be better too, but there is little to nothing out there to support any growth. Don’t believe the stock market. It’s not even connected to the economy anymore. A lot of the stocks are being bought with money printed by the Fed. It’s a bubble that’s going to burst
-PJ
So the PMI is sitting less than it was in ‘07, and your are telling us mfg. is booming? Sell that sh__ sandwich elsewhere.
Oh OK Oh happy days are here again.
does anyone really believe this kind of headline?
Even if this were true, you can bet the farm dear leader will step in and screw it up.
1984?
“”Unexpectedly” is the code-word for “until it is revised downward next month.””
That is an excellent summary. And the correction will be on page 27.
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