ISM Report Contains Worst Employment Figure Since September 2009
They are finally admitting what is known for a long time
any excuse for a selloff
NFP will be at least mildly interesting, especially to see which way they manipulate the figures this month
"they" must really take us all for morons
WR1:
any excuse for a selloff
any excuse for a selloff
NFP will be at least mildly interesting, especially to see which way they manipulate the figures this month
"they" must really take us all for moronsThey are cooking the books for so long time and we believed them for so long a time that you actually might be right : we are morons since we allowed them to do what they are doing right now
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The latest ISM survey results on the health of the American manufacturing sector are out, and the report contains mostly good news.
(Production and new orders are both growing, and the rate of growth for both accelerated in June. Same goes for imports and exports.)
Despite seemingly improving conditions, the ISM report's employment sub-index sank to 48.7 in June from 50.1, marking the lowest level since September 2009.
Any reading below 50 on the index indicates contraction, so the 48.7 ISM employment print suggests that in June, employment contracted at the fastest level in nearly four years.
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