Construction Spending; ISM; Non Farms Payrolls
Summary: Headline reads construction spending decline within estimates.
Under the sheets... Yoy SFR construction off 40%.
Headline reads overall economic activity in the manufacturing sector unchanged.
Under the sheets... the downward trend continues with declining new orders & exports.
Headline reads non farms decline in line. Under the sheets...
double digit unemployment as the emasculated service based economy continues its death spiral.
Construction Spending Jun -0.4% vs prior FLAT Full Report
Inside the number: Yoy -5.9%; Private -0.4%; Yoy -9.6%; Residential -1.7%; Yoy -26.4%.
Private Residential -1.8%; Yoy -26.7%; Since Mar 2006 peak -45%...
and drum roll please Jun SFR -3.7%; Yoy -40.4%
ISM Index Jul 50.2 vs 50.2 Full Report
Inside the number: declining new orders 45 vs 49.6; inventories 45 vs 51.2; prices 88.5 vs 91.5; exports 54 vs 58.5; growing employment 51.9 vs 43.7
"Our company has gone to a four-day/10-hour week in an effort to curtail energy costs for the company and for employees." (Transportation Equipment)
"Competitive market forces are preventing companies from boosting prices high enough to recover raw material input costs." (Plastics & Rubber Products)
"All automotive manufacturers (especially trucks) are down significantly." (Fabricated Metal Products)
"It is almost impossible to keep up with the complexity of never-ending price movement." (Chemical Products)
"We have had two large projects cancelled that we believe are solely due to the uncertain economy." (Machinery)
Nonfarm Payrolls Jul -51K vs -51K Full Report
Inside the number: Prior revised down 11K. Unemployment Rate increasing 5.7% vs 5.5%.
Employment -72K; Labor Force +213K; Not in force +24K; Unemployment +285K.
Goods producing -46K; Construction -22K; Manufacturing -35K; Durable -17K; Non Durable -18K.
Services -5K; Private Services -30K; Professional & Business -24K; Total Private -76K
Table 12: U6 Total unemployed 10.3% vs 9.9%
Consecutive monthly declines: service sector 2; non farm payroll 7, private sector 8...
private sevice providing 6 out of 7 months; construction 12; goods producing 16; manufacturing 25.
Under the sheets... Yoy SFR construction off 40%.
Headline reads overall economic activity in the manufacturing sector unchanged.
Under the sheets... the downward trend continues with declining new orders & exports.
Headline reads non farms decline in line. Under the sheets...
double digit unemployment as the emasculated service based economy continues its death spiral.
Construction Spending Jun -0.4% vs prior FLAT Full Report
Inside the number: Yoy -5.9%; Private -0.4%; Yoy -9.6%; Residential -1.7%; Yoy -26.4%.
Private Residential -1.8%; Yoy -26.7%; Since Mar 2006 peak -45%...
and drum roll please Jun SFR -3.7%; Yoy -40.4%
ISM Index Jul 50.2 vs 50.2 Full Report
Inside the number: declining new orders 45 vs 49.6; inventories 45 vs 51.2; prices 88.5 vs 91.5; exports 54 vs 58.5; growing employment 51.9 vs 43.7
"Our company has gone to a four-day/10-hour week in an effort to curtail energy costs for the company and for employees." (Transportation Equipment)
"Competitive market forces are preventing companies from boosting prices high enough to recover raw material input costs." (Plastics & Rubber Products)
"All automotive manufacturers (especially trucks) are down significantly." (Fabricated Metal Products)
"It is almost impossible to keep up with the complexity of never-ending price movement." (Chemical Products)
"We have had two large projects cancelled that we believe are solely due to the uncertain economy." (Machinery)
Nonfarm Payrolls Jul -51K vs -51K Full Report
Inside the number: Prior revised down 11K. Unemployment Rate increasing 5.7% vs 5.5%.
Employment -72K; Labor Force +213K; Not in force +24K; Unemployment +285K.
Goods producing -46K; Construction -22K; Manufacturing -35K; Durable -17K; Non Durable -18K.
Services -5K; Private Services -30K; Professional & Business -24K; Total Private -76K
Table 12: U6 Total unemployed 10.3% vs 9.9%
Consecutive monthly declines: service sector 2; non farm payroll 7, private sector 8...
private sevice providing 6 out of 7 months; construction 12; goods producing 16; manufacturing 25.
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