US Manufacturing "Took Sharp Turn For The Worse" In June
Submitted by Dave Hodges on Wednesday, July 5, 2023 - 21:12.
by Tyler Durden
S&P Global US Manufacturing 46.3 for June, down from 46.9 prior.
US ISM Manufacturing 46.0 in June, down from 46.9, big miss relative to 47.2 exp
Source: Bloomberg
For context, S&P Global's US Manufacturing is basically at Dec 2022 lows (which absent the spike low during COVID lockdowns is the worst descending print since Lehman...
Under the hood of the ISM report, Employment, New Orders, and Prices Paid (a big miss) all tumbled into contraction...
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