U.S. Manufacturing is Cratering

No U.S. manufacturing jobs. 

Global Manufacturing PMI Cratering

We are in a recession.

ISM Manufacturing PMI Contraction

The ISM U.S. manufacturing purchasing managers’ index came in at 47.8% in September, the lowest since June 2009. So tariffs were supposed to bring back manufacturing jobs huh?

 

Considering the fact that 60% of U.S. exports is manufacturing. This will have a detrimental effect on the trade deficit and the U.S. dollar.

Also, while manufacturing is contracting, debt keeps piling up. We just got another 100 billion in debt added.

Philadelphia Fed Manufacturing Inventories Up

Business inventories reached a new high in September.

Usually a bad sign for GDP when inventories go up and sales go down.

ISM Manufacturing PMI Vs. ISM Services PMI

It's not so clear why, but the ISM Manufacturing PMI leads the ISM Services PMI. This means that the ISM Manufacturing PMI is more important as a leading indicator.