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Manufacturing Rebounds In December As New Orders Hit 13 Year High

 

Manufacturing Rebounds In December As New Orders Hit 13 Year High

Courtesy of Zero Hedge

Following Markit's Manufacturing PMI's surge to the highest since March 2015, ISM Manufacturing for December rebounded after two down-months as Prices Paid and New Orders spiked (but employment dropped).

ISM's rebound confirmed PMI's rise…

The Breakdown shows a massive spike in new orders and prices but a drop in employment…

Respondents remain exuberant:

  • “Our business is moving higher into the new year. Increased sales are resulting in increased purchases of CapEx and raw materials.” (Chemical Products)
  • “Strong international sales — Europe and Australia — versus last two years. U.S. sales continue to grow. Seeing commodity pricing pressures.” (Machinery)
  • “We are seeing a ramp-up with companies releasing early 2018 spend now.” (Computer & Electronic Products)
  • “Business conditions are good; we are tracking well to our projections for the year.” (Miscellaneous Manufacturing)
  • “First quarter 2018 probably will be better than the fourth quarter 2017.” (Fabricated Metal Products)
  • “Domestic and international sales on the rise.” (Transportation Equipment)
  • “Economy [is] strong and business is strong, yet signals of headwinds in 2018 are persistent.” (Food, Beverage & Tobacco Products)
  • “All suppliers are reporting strong business activity and difficulties obtaining qualified employees.” (Paper Products)
  • “Demand at this time is strong in the construction part of our business. I think it is due to the impact of the hurricanes and the rebuild and new construction that is required.” (Plastics & Rubber Products)

New Orders soared to their highest level since Jan 2004…

But employment tumbled?


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