Jun ISM; May Construction Spending
Summary: Headline reads construction spending decline matches estimates.
Under the sheets... the 11th decline in the last year, the main economic engine since 2001; SFR Yoy -39%.
Headline reads slight impovement in manufacturing after 4 months of decline.
Under the sheets... prices paid hitting a 29 year high, as demand for product slows.
Construction Spending May -0.4% vs -0.4% Full Report
Inside the number: Yoy -6%; residential -1.6%; Yoy -26.9%. Total private -0.7%; Yoy -9.7%; SFR -3.4%; Yoy -39.2%
ISM Index Jun 50.2 vs 49.6 Full Report
Inside the number: Contracting; new orders49.6 vs 49.7 (7 months); employment 43.7 vs 45.5 (8 months); backlog 47.5 vs 46; imports 46 vs 49.5 (5 months)
Increasing; prices 91.5 vs 87 (18 months up & the highest since 1979); customer inventories 55 vs 47; inventories 51.2 vs 48
"The shock waves from high crude price continue to put pressure on derivative pricing." (Chemical Products)
"Business appears to have bottomed out." (Transportation Equipment)
"Seeing renewed interest in outstanding quotes." (Machinery)
"Volume is normal, and we are able to recover some of the raw material (steel cost) increases." (Fabricated Metal Products)
"Commodity bubble is killing profitability." (Food, Beverage & Tobacco Products)
"Orders have slowed, and prices for metals are going up." (Computer & Electronic Products)
Under the sheets... the 11th decline in the last year, the main economic engine since 2001; SFR Yoy -39%.
Headline reads slight impovement in manufacturing after 4 months of decline.
Under the sheets... prices paid hitting a 29 year high, as demand for product slows.
Construction Spending May -0.4% vs -0.4% Full Report
Inside the number: Yoy -6%; residential -1.6%; Yoy -26.9%. Total private -0.7%; Yoy -9.7%; SFR -3.4%; Yoy -39.2%
ISM Index Jun 50.2 vs 49.6 Full Report
Inside the number: Contracting; new orders49.6 vs 49.7 (7 months); employment 43.7 vs 45.5 (8 months); backlog 47.5 vs 46; imports 46 vs 49.5 (5 months)
Increasing; prices 91.5 vs 87 (18 months up & the highest since 1979); customer inventories 55 vs 47; inventories 51.2 vs 48
"The shock waves from high crude price continue to put pressure on derivative pricing." (Chemical Products)
"Business appears to have bottomed out." (Transportation Equipment)
"Seeing renewed interest in outstanding quotes." (Machinery)
"Volume is normal, and we are able to recover some of the raw material (steel cost) increases." (Fabricated Metal Products)
"Commodity bubble is killing profitability." (Food, Beverage & Tobacco Products)
"Orders have slowed, and prices for metals are going up." (Computer & Electronic Products)
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