"This is serious" said the email subject from the economist.
Official Release from the ISM:
New Orders, Production, and Employment Contracting Supplier Deliveries Slowing at a Slower Rate; Backlog Contracting Raw Materials Inventories Contracting; Customers’ Inventories Too Low Prices Decreasing; Exports and Imports Contracting.
Economic activity in the manufacturing sector contracted in September, and the overall economy grew for the 125th consecutive month.
From Goldman Sachs:
The ISM manufacturing index fell against expectations for a rebound in September. The composition of the report was weak, as the key components remained or fell further into contractionary territory, and the new export orders index fell to its lowest level since March 2009. Construction spending rose by less than expected in August and was revised down in prior months. We lowered our Q3 GDP tracking estimate by one tenth to +2.0% (qoq ar). Our September Current Activity Indicator remained unchanged at 1.2% (vs. 1.5% in August).
