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.


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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