Wednesday, June 05, 2013

The manufacturing renaissance will not be televised

Ouch! This morning's ISM report on Manufacturing activity was bad. A reading of 49 (below 50 indicates contraction), the lowest since mid 2009.

Here's a chart from the maestro, Bill McBride (clic the pic for a more illuminating image):




Plus the recent ADP jobs report indicated that 6000 manufacturing jobs were "lost" in May.

Come on Service sector! Only you can save us.


3 comments:

Todd said...

This certainly is bad news for the manufacturing sector and people who remain unemployed in the industry. Service is definitely a priority along with innovation.

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