November ISM non-manufacturing index shows sector slowing

U.S. services sector activity slowed more than expected in November amid lingering concerns about trade tensions and worker shortages, which could revive fears about the economy’s health. The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index fell to a reading of 53.9 in last month from 54.7 in October. A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity. Economists polled by Re


U.S. services sector activity slowed more than expected in November amid lingering concerns about trade tensions and worker shortages, which could revive fears about the economy’s health.
The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index fell to a reading of 53.9 in last month from 54.7 in October.
A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity.
Economists polled by Re
November ISM non-manufacturing index shows sector slowing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: jeff cox
Keywords: news, cnbc, companies, activity, index, month, sector, manufacturing, ism, slowing, nonmanufacturing, trade, reading, services, shows, fourth


November ISM non-manufacturing index shows sector slowing

Lead waitress Rhonda Abdullah serving the Taylor’s, James and Voncia of Aurora their lunch at the Welton Street Cafe that will turn 20 this year, the last-standing soul food restaurant in the Five Points neighborhood in Denver, Colorado on June 7, 2019.

U.S. services sector activity slowed more than expected in November amid lingering concerns about trade tensions and worker shortages, which could revive fears about the economy’s health.

The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing activity index fell to a reading of 53.9 in last month from 54.7 in October. A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity.

Economists polled by Reuters had forecast the index dipping to a reading of 54.5 in November.

The ISM reported on Monday that manufacturing activity contracted for the fourth straight month in November, with new orders falling back to around their lowest level since 2012. The continued manufacturing slump tempered growth expectations for the fourth quarter, which had been boosted by a rush of upbeat reports on the trade deficit, housing and business investment.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: jeff cox
Keywords: news, cnbc, companies, activity, index, month, sector, manufacturing, ism, slowing, nonmanufacturing, trade, reading, services, shows, fourth


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Jobs data, services gauge, Trump meets Merkel: 3 things to watch for Wednesday

President Donald Trump faces reporters as he departs for travel to Tupelo, Mississippi from the South Lawn of the White House in Washington, November 1, 2019. Tom Brenner | ReutersHere are the most important things to know about Wednesday before you hit the door1. Data on Tuesday showed manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said. Services gaugeWe’ll get a read on whether activity in the U.S. services sector is slipping like the m


President Donald Trump faces reporters as he departs for travel to Tupelo, Mississippi from the South Lawn of the White House in Washington, November 1, 2019.
Tom Brenner | ReutersHere are the most important things to know about Wednesday before you hit the door1.
Data on Tuesday showed manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said.
Services gaugeWe’ll get a read on whether activity in the U.S. services sector is slipping like the m
Jobs data, services gauge, Trump meets Merkel: 3 things to watch for Wednesday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, sector, meets, trade, services, gauge, market, jobs, things, data, activity, supply, read, merkel, watch, reading, trump


Jobs data, services gauge, Trump meets Merkel: 3 things to watch for Wednesday

President Donald Trump faces reporters as he departs for travel to Tupelo, Mississippi from the South Lawn of the White House in Washington, November 1, 2019. Tom Brenner | Reuters

Here are the most important things to know about Wednesday before you hit the door

1. Jobs data

We’ll get a first reading on the strength of the November labor market on Wednesday with private payroll data from ADP coming out at 8:15 a.m. Economists surveyed by Dow Jones are estimating 150,000 jobs added in November, a faster pace than the 125,000 jobs added in October. Wednesday’s ADP job count comes ahead of Friday’s more closely watched Labor Department nonfarm payrolls report. A robust job market could curb investors fears that the U.S. economy may be weakening, especially in the face of negative trade headlines. Data on Tuesday showed manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said.

2. Services gauge

We’ll get a read on whether activity in the U.S. services sector is slipping like the manufacturing sector. The Institute for Supply Management’s nonmanufacturing economic reading will be released at 9 a.m on Wednesday. Economists polled by Dow Jones are forecasting a read of 54.5 for November, down from 54.7 in October. A reading above 50% signals expansion. The service sector, which accounts for more than two-thirds of U.S. economic activity, has been expanding for 117 straight months, according to the survey-based ISM index. A reading in-line with estimates would bring its expansion to 118 months.

3. Trump on trade


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, sector, meets, trade, services, gauge, market, jobs, things, data, activity, supply, read, merkel, watch, reading, trump


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A key manufacturing index shows the US remains in contraction territory

Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday. Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations. The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival. In a related release, the Markit manufacturing reading, known as the Purchasi


Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.
Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations.
The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival.
In a related release, the Markit manufacturing reading, known as the Purchasi
A key manufacturing index shows the US remains in contraction territory Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: jeff cox
Keywords: news, cnbc, companies, growth, reliable, points, expansion, territory, contraction, orders, manufacturing, reading, report, key, ism, remains, trade, index, shows


A key manufacturing index shows the US remains in contraction territory

Manufacturing activity continued to lag in November amid a lag in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.

The reading came in at 48.1 vs. an expectation of 49.4 and the previous month’s reading of 48.3.

Though the ISM reading is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations. A reading below 50 represents contraction; November was the fourth straight month below the expansion level.

Stocks fell on the report, with the Dow Jones Industrial Average off more than 150 points at 10:30 am ET.

New orders slumped to 47.2, down 1.9 percentage points from October’s 49.1. Inventories, which are a key input for gross domestic product, came in at 45.5, down 3.4 points from the previous month.

The numbers come amid speculation about the pace of U.S. growth.

Recession worries have ebbed from earlier in the year, when the Treasury yield curve was inverted and flashing what has been a reliable 12-month recession indicator for the past 50 years. GDP growth has averaged around 2.4% in 2019, with the third quarter coming in at 2.1%. However, most forecasters expect the fourth quarter to come in under 2%.

The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival. This will weigh on job growth and capex over the next few months, to the point where we are not ready to rule out a further [Federal Reserve] easing in January,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a note.

Manufacturing is considered a reliable bellwether for how the rest of the economy is doing, though it comprises only about one-fifth of GDP.

Nearly all of the key ISM indicators were at contraction levels in November.

Employment was at 46.6, down 1.1 point for the month, while export orders fell 2.5 points to 47.9 as the U.S. and China continue to look for a resolution to a trade dispute that began more than a year and a half ago.

Supplier deliveries was one of the few metrics in expansion, rising 2.5 points to 52.

In a related release, the Markit manufacturing reading, known as the Purchasing Managers Index, indicated expansion, coming in at 52.6, just above expectations and a bit better than the 51.3 October reading.

The Markit PMI growth reflected an uptick in production and new orders as well as strength in employment indicators. It was the strongest reading in seven months.

Investors will get a close look Friday at the impact the manufacturing slowdown and trade war have had on the broader economy. The Labor Department’s nonfarm payrolls report comes down that day, with economists surveyed by Dow Jones expecting a sharp rebound in growth to 187,000 from November’s 128,000.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: jeff cox
Keywords: news, cnbc, companies, growth, reliable, points, expansion, territory, contraction, orders, manufacturing, reading, report, key, ism, remains, trade, index, shows


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Consumer sentiment, economy gauges, Foot Locker earnings: 3 things to watch for Friday

We’ll get a read on the health of the consumer on Friday with November’s final consumer sentiment data set to release at 10:00 a.m. Sentiment in the U.S. in October came in at 95.5, according to data released by the University of Michigan. Manufacturing and services gaugeWe’ll get a read on the U.S. manufacturing and services sector with PMIs from Markit released on Friday. Economists polled by Dow Jones are expecting a slightly stronger reading of manufacturing activity in November at 51.4, com


We’ll get a read on the health of the consumer on Friday with November’s final consumer sentiment data set to release at 10:00 a.m.
Sentiment in the U.S. in October came in at 95.5, according to data released by the University of Michigan.
Manufacturing and services gaugeWe’ll get a read on the U.S. manufacturing and services sector with PMIs from Markit released on Friday.
Economists polled by Dow Jones are expecting a slightly stronger reading of manufacturing activity in November at 51.4, com
Consumer sentiment, economy gauges, Foot Locker earnings: 3 things to watch for Friday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-21  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, services, consumer, earnings, polled, read, gauges, sentiment, manufacturing, locker, data, things, dow, released, reading, economy, slightly, watch, foot


Consumer sentiment, economy gauges, Foot Locker earnings: 3 things to watch for Friday

Foot Locker Inc. signage is displayed in the window of a store in New York, U.S. Michael Nagle | Bloomberg | Getty Images

Here are the most important things to know about Friday before you hit the door.

1. Healthy consumer?

We’ll get a read on the health of the consumer on Friday with November’s final consumer sentiment data set to release at 10:00 a.m. Sentiment in the U.S. in October came in at 95.5, according to data released by the University of Michigan. A higher reading means consumers feel more confident about current and future economic conditions. Economists polled by Dow Jones are expecting sentiment to come in at 95.5, in line with last month’s data and slightly below the preliminary reading of 95.7.

2. Manufacturing and services gauge

We’ll get a read on the U.S. manufacturing and services sector with PMIs from Markit released on Friday. Economists polled by Dow Jones are expecting a slightly stronger reading of manufacturing activity in November at 51.4, compared with 51.3 in October. While the PMI Markit data didn’t show contraction last month, the closely watched manufacturing purchasing managers’ index from the Institute for Supply Management came in at 48.3 in October. A number below 50 represents a contraction in the industry. Services PMI is forecast to come in at 51, up from the previous reading of 50.6, according to Dow Jones.

3. Foot Locker earnings


Company: cnbc, Activity: cnbc, Date: 2019-11-21  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, services, consumer, earnings, polled, read, gauges, sentiment, manufacturing, locker, data, things, dow, released, reading, economy, slightly, watch, foot


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The ‘great’ business book Venus Williams is reading right now

When Venus Williams isn’t on the tennis court, running her multiple businesses or playing with her Havanese dog named Harold, she enjoys reading. So, it’s a great book,” Venus, 39, told CNBC Make It at an American Express Travel event in November. As the CEO of her interior design firm, V Starr Interiors, which launched in 2002, and her athletic apparel line EleVen, which she founded in 2007, organizational culture is something that’s important to Williams. “When you are purpose driven as a busi


When Venus Williams isn’t on the tennis court, running her multiple businesses or playing with her Havanese dog named Harold, she enjoys reading.
So, it’s a great book,” Venus, 39, told CNBC Make It at an American Express Travel event in November.
As the CEO of her interior design firm, V Starr Interiors, which launched in 2002, and her athletic apparel line EleVen, which she founded in 2007, organizational culture is something that’s important to Williams.
“When you are purpose driven as a busi
The ‘great’ business book Venus Williams is reading right now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-20  Authors: anna hecht
Keywords: news, cnbc, companies, business, values, reading, venus, plans, right, culture, talks, great, organizational, mission, book, management, williams


The 'great' business book Venus Williams is reading right now

When Venus Williams isn’t on the tennis court, running her multiple businesses or playing with her Havanese dog named Harold, she enjoys reading.

Currently, she’s got her nose in a book by S. Chris Edmonds called “The Culture Engine: A Framework for Driving Results, Inspiring Your Employees, and Transforming Your Workplace.”

In the 2014 book, Edmonds, an organizational behaviorist and founder and CEO of management consultancy The Purposeful Culture Group, explains how those in management positions can get their teams to engage meaningfully and perform better through the creation of “an organizational constitution” — a signed document that outlines a given company’s mission, values, strategies and goals.

“It talks about how to build an amazing culture. But it also talks about what your values are and how to incorporate that. So, it’s a great book,” Venus, 39, told CNBC Make It at an American Express Travel event in November.

As the CEO of her interior design firm, V Starr Interiors, which launched in 2002, and her athletic apparel line EleVen, which she founded in 2007, organizational culture is something that’s important to Williams.

“When you are purpose driven as a business it really makes the impact, that you can have on people, so much greater. It is also exciting for employees that they know that they are working towards that mission on a daily basis. People matter, every single person makes a contribution,” Williams said in a video posted in August by TriNet, an HR services business.

Beyond being a business owner and investor (Williams and her siter Serena Williams are investors in the Ultimate Fighting Championship [UFC] and are minority owners of the Miami Dolphins), Williams also has a legendary work ethic, and no plans to retire from tennis.

When asked what she plans on doing for the holidays and Thanksgiving, she calmly answers: “I don’t celebrate any holidays. I’ll be at practice … yeah, on the courts!”

Don’t Miss:

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Company: cnbc, Activity: cnbc, Date: 2019-11-20  Authors: anna hecht
Keywords: news, cnbc, companies, business, values, reading, venus, plans, right, culture, talks, great, organizational, mission, book, management, williams


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Consumer sentiment, Disney earnings reaction, market rally: Three things to watch on Friday

Disney earnings reactionDisney posted fiscal fourth-quarter earnings after the bell on Thursday. The company reported adjusted earnings per share of $1.07 vs. 95 cents expected, according to Refinitiv. Disney’s fiscal fourth-quarter earnings arrived just days before the company’s long-awaited streaming service, Disney+, is set to launch on November 12. We’ll get an early read on the health of the consumer on Friday with November’s preliminary consumer sentiment data set to release at 10:00 a.m.


Disney earnings reactionDisney posted fiscal fourth-quarter earnings after the bell on Thursday.
The company reported adjusted earnings per share of $1.07 vs. 95 cents expected, according to Refinitiv.
Disney’s fiscal fourth-quarter earnings arrived just days before the company’s long-awaited streaming service, Disney+, is set to launch on November 12.
We’ll get an early read on the health of the consumer on Friday with November’s preliminary consumer sentiment data set to release at 10:00 a.m.

Consumer sentiment, Disney earnings reaction, market rally: Three things to watch on Friday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, earnings, watch, sentiment, reading, refinitiv, things, rally, reaction, preliminary, market, consumer, according, set, disney, service


Consumer sentiment, Disney earnings reaction, market rally: Three things to watch on Friday

The Disney+ (Plus) logo is seen displayed on a smartphone. Rafael Henrique | LightRocket | Getty Images

Here are the most important things to know about Friday before you hit the door.

1. Disney earnings reaction

Disney posted fiscal fourth-quarter earnings after the bell on Thursday. The shares were up 3.42% in after hours trading. The company reported adjusted earnings per share of $1.07 vs. 95 cents expected, according to Refinitiv. Revenue came in at $19.1 billion vs. $19.04 billion expected, according to Refinitiv. Disney’s fiscal fourth-quarter earnings arrived just days before the company’s long-awaited streaming service, Disney+, is set to launch on November 12. The service costs $6.99 per month, or $69.99 per year, and will feature content from Disney, Pixar, Marvel, Star Wars and more.

2. Healthy consumer?

We’ll get an early read on the health of the consumer on Friday with November’s preliminary consumer sentiment data set to release at 10:00 a.m. Sentiment in the U.S. in October came in at 95.5, higher than September’s 93.2, but below the preliminary reading and the Street estimate of 96, according to data released by the University of Michigan. A higher reading means consumers feel more confident about current and future economic conditions. Economists polled by Dow Jones are expecting a slight fall in sentiment to a reading of 95 in November.

3. Ending a week of record highs


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, earnings, watch, sentiment, reading, refinitiv, things, rally, reaction, preliminary, market, consumer, according, set, disney, service


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Treasury yields move lower as investors await economic data, auctions

U.S. government debt prices were higher Wednesday morning, as investors await economic data, Treasury auctions and a flurry of speeches from policymakers at the Federal Reserve . ET, the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.8442%, while the yield on the 30-year Treasury bond was also lower at around 2.3214%. Market focus is largely attuned to global trade developments, as investors monitor any cues that might de-escalate a protracted trade disput


U.S. government debt prices were higher Wednesday morning, as investors await economic data, Treasury auctions and a flurry of speeches from policymakers at the Federal Reserve .
ET, the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.8442%, while the yield on the 30-year Treasury bond was also lower at around 2.3214%.
Market focus is largely attuned to global trade developments, as investors monitor any cues that might de-escalate a protracted trade disput
Treasury yields move lower as investors await economic data, auctions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-06  Authors: sam meredith
Keywords: news, cnbc, companies, reading, trade, auctions, investors, data, economic, yields, await, preliminary, lower, treasury, yield, thirdquarter


Treasury yields move lower as investors await economic data, auctions

U.S. government debt prices were higher Wednesday morning, as investors await economic data, Treasury auctions and a flurry of speeches from policymakers at the Federal Reserve .

At around 04:45 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.8442%, while the yield on the 30-year Treasury bond was also lower at around 2.3214%.

Market focus is largely attuned to global trade developments, as investors monitor any cues that might de-escalate a protracted trade dispute between the U.S. and China.

The world’s two largest economies have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.

On the data front, a preliminary reading of third-quarter productivity data will be released at around 8:30 a.m. ET, with a preliminary reading of third-quarter unit labor costs also set to be published at the same time.


Company: cnbc, Activity: cnbc, Date: 2019-11-06  Authors: sam meredith
Keywords: news, cnbc, companies, reading, trade, auctions, investors, data, economic, yields, await, preliminary, lower, treasury, yield, thirdquarter


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Key economic data, Peloton earnings, Xi Jinping comments: 3 things to watch Tuesday

Here are the most important things to know about Tuesday before you hit the door. Tuesday, we’ll get insight into economic sentiment after the October ISM Non-Manufacturing Business Activity Index report is released at 10 a.m. The survey measures the percentage of companies from the services sector that are expecting to expand their business, so it can be an indicator for the overall health of the economy. In the month of September, the services sector expanded, but the 52.6 reading missed estim


Here are the most important things to know about Tuesday before you hit the door.
Tuesday, we’ll get insight into economic sentiment after the October ISM Non-Manufacturing Business Activity Index report is released at 10 a.m.
The survey measures the percentage of companies from the services sector that are expecting to expand their business, so it can be an indicator for the overall health of the economy.
In the month of September, the services sector expanded, but the 52.6 reading missed estim
Key economic data, Peloton earnings, Xi Jinping comments: 3 things to watch Tuesday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: pippa stevens
Keywords: news, cnbc, companies, showed, business, data, reading, peloton, key, watch, sector, services, things, economic, jinping, earnings, comments, report, york, weakest, month


Key economic data, Peloton earnings, Xi Jinping comments: 3 things to watch Tuesday

Here are the most important things to know about Tuesday before you hit the door.

A monitor displays Peloton Interactive Inc. signage during the company’s initial public offering (IPO) across from the Nasdaq MarketSite in New York, U.S., on Thursday, Sept. 26, 2019.

Tuesday, we’ll get insight into economic sentiment after the October ISM Non-Manufacturing Business Activity Index report is released at 10 a.m. The survey measures the percentage of companies from the services sector that are expecting to expand their business, so it can be an indicator for the overall health of the economy.

A reading above 50 represents growth, and the consensus estimate for October is 53.5.

In the month of September, the services sector expanded, but the 52.6 reading missed estimates of 55.3, and it was the weakest reading since August of 2016. It was also down sharply from August’s 56.4 print.

Tuesday’s data comes after Friday’s mixed read on the economy. The jobs report showed an unexpected jump in nonfarm payrolls, while manufacturing data showed the third straight month of contraction.

IHS Markit will also release its October US Services PMI number tomorrow.


Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: pippa stevens
Keywords: news, cnbc, companies, showed, business, data, reading, peloton, key, watch, sector, services, things, economic, jinping, earnings, comments, report, york, weakest, month


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Hong Kong falls into first recession in 10 years as protests, trade war weigh

Hong Kong slid into recession for the first time in a decade in the third quarter, weighed down by increasingly violent anti-government protests and the protracted U.S.-China trade war. Five months of protests have battered the Chinese-ruled city’s retail and tourism sector, and there is no sign of the demonstrations abating. The government also revised down second-quarter GDP data to show growth of 0.4% year-on-year, from a preliminary estimate of 0.6% and a later reading of 0.5%. Quarter-on-qu


Hong Kong slid into recession for the first time in a decade in the third quarter, weighed down by increasingly violent anti-government protests and the protracted U.S.-China trade war.
Five months of protests have battered the Chinese-ruled city’s retail and tourism sector, and there is no sign of the demonstrations abating.
The government also revised down second-quarter GDP data to show growth of 0.4% year-on-year, from a preliminary estimate of 0.6% and a later reading of 0.5%.
Quarter-on-qu
Hong Kong falls into first recession in 10 years as protests, trade war weigh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-01
Keywords: news, cnbc, companies, preliminary, hong, sign, falls, protests, weigh, kong, retail, quarter, trade, revised, reading, war, yearonyear, recession, sentiment


Hong Kong falls into first recession in 10 years as protests, trade war weigh

Hong Kong slid into recession for the first time in a decade in the third quarter, weighed down by increasingly violent anti-government protests and the protracted U.S.-China trade war.

Five months of protests have battered the Chinese-ruled city’s retail and tourism sector, and there is no sign of the demonstrations abating. Police tightened security on Thursday ahead of more potential clashes.

The city’s economy shrank 3.2% in July-September from the preceding period, contracting for a second straight quarter and meeting the technical definition of a recession, according to preliminary government data on Thursday.

From a year earlier, gross domestic product (GDP) contracted 2.9%. The readings were the weakest for the Asian financial hub since the global financial crisis in 2008/2009.

The government also revised down second-quarter GDP data to show growth of 0.4% year-on-year, from a preliminary estimate of 0.6% and a later reading of 0.5%. Quarter-on-quarter was revised down to -0.5%, versus a preliminary forecast of -0.3% and a later reading of -0.4%.

“Domestic demand worsened significantly,” the government said in a statement.

“As the weakening economic conditions dampened consumer sentiment and large-scale demonstrations cause severe disruptions to the retail, catering and other consumer-related sectors, private consumption expenditure recorded its first year-on-year decline in more than 10 years.”

The government said that with no sign of protests abating, private consumption and investment sentiment would continue to be affected.


Company: cnbc, Activity: cnbc, Date: 2019-11-01
Keywords: news, cnbc, companies, preliminary, hong, sign, falls, protests, weigh, kong, retail, quarter, trade, revised, reading, war, yearonyear, recession, sentiment


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ISM manufacturing index October 2019

A gauge of U.S. manufacturing showed the sector continued to contract in October, the third straight month of slowdown amid global trade uncertainties. The purchasing manufacturing index from the Institute for Supply Management came in at 48.3% last month, compared with a 47.8% reading in September. The sector showed its first contraction in a few years in August, ending a 35-month expansion period where the PMI averaged 56.5%, according to ISM. The backlog of orders index was 44.1%, contracting


A gauge of U.S. manufacturing showed the sector continued to contract in October, the third straight month of slowdown amid global trade uncertainties.
The purchasing manufacturing index from the Institute for Supply Management came in at 48.3% last month, compared with a 47.8% reading in September.
The sector showed its first contraction in a few years in August, ending a 35-month expansion period where the PMI averaged 56.5%, according to ISM.
The backlog of orders index was 44.1%, contracting
ISM manufacturing index October 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-01  Authors: yun li, jeff cox
Keywords: news, cnbc, companies, ism, contraction, manufacturing, month, showed, index, 2019, sector, trade, inventories, orders, reading


ISM manufacturing index October 2019

A man using an angle grinder on a steel piece at a metal fabrication company on August 7, 2018 in Orange County, New York.

A gauge of U.S. manufacturing showed the sector continued to contract in October, the third straight month of slowdown amid global trade uncertainties.

The purchasing manufacturing index from the Institute for Supply Management came in at 48.3% last month, compared with a 47.8% reading in September. But it was below economists’ expectations of 49.1%. A number below 50% represents a contraction in the industry.

The sector showed its first contraction in a few years in August, ending a 35-month expansion period where the PMI averaged 56.5%, according to ISM. The manufacturing gauge had its lowest reading since June 2009 in September as exports dived amid the escalated trade war.

The continuing contraction showed the challenging environment U.S. manufacturers are faced with amid the escalated trade war between the U.S. and China. Manufacturing was once considered a big winner under the Trump administration with improvements in employment and activity over the past few years.

“Comments from the panel reflect an improvement from the prior month, but sentiment remains more cautious than optimistic,” Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee, said in a statement.

The production index was only 46.2% in October, compared to the September reading of 47.3%. The backlog of orders index was 44.1%, contracting for the sixth straight month, versus the September reading of 45.1%, according to ISM.

Prices decreased for the fifth consecutive month and at a faster rate with the prices index registered 45.5% in October.

“Inputs — expressed as supplier deliveries, inventories and imports — were again lower in October, due primarily to supplier delivery contraction offset by improvements in inventories,” Fiore said.

However, the latest report also showed signs of recovery, making some on Wall Street believe the manufacturing slowdown won’t be accelerating. New orders, employment and inventories all showed improvement last month.

“The outlook for nation’s factories isn’t growing any worse and the manufacturing recession isn’t intensifying,” Chris Rupkey, chief financial economist at MUFG, said in a note. “There are even some green shoots for the manufacturing sector as orders are picking up and orders lead the way forward for production and output and jobs.”


Company: cnbc, Activity: cnbc, Date: 2019-11-01  Authors: yun li, jeff cox
Keywords: news, cnbc, companies, ism, contraction, manufacturing, month, showed, index, 2019, sector, trade, inventories, orders, reading


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