US Manufacturing Shrugs Off Fires, Floods, & Storms In October But ISM Disappoints

Jon Alternative Media, Blogosphere, Economy

Against disappointing China PMIs, US Manufacturing PMI surged back near 2017 highs in October – shrugging off the efects of recent storms, floods, and wildfires – with factory jobs near their best since the financial crisis and gains broadening out to smaller firms too. However, ISM Manufacturing disappointed, falling back from 13 year highs.
So take your pick… is manufacturing momentum picking up (PMI) or fading (ISM)?

Under the hood, ISM reported weaker production, lower prices paid, and weaker new orders and while PMI reported a surge to 28-month highs for employment, ISM saw a drop to 3 month lows.

This post was published at Zero Hedge on Nov 1, 2017.