Prices paid 54.8 vs 48.5 expected (48.3 prior) — highest since MayEmployment 44.4 vs 43.9 prior New orders 47.1 vs 46.1 prior Production 46.2 vs 49.8 prior Supplier deliveries 52.0 vs 52.2 prior Inventories 42.6 vs 43.9 prior Backlog of orders 42.3 vs 44.1 prior New export orders 45.5 vs 45.3 prior Imports 48.3 vs 48.3 prior
This is a miss and that’s dovish but the jump in prices could also get the Fed’s attention, though it’s an odd one give the fall in fuel prices. The prices paid number is the highest since May but it comes after the lowest number of the year.
Overall, it’s a tough stretch for manufacturing right now and there is no reason to see a quick turn.
This article was written by Adam Button at www.forexlive.com.
