"The Institute for Supply Management’s gauge of manufacturing activity slipped to its lowest level in two years in July. Economists and others weigh in.
-This is exceptionally weak and I am struggling to find any silver lining as the underlying components were, with the exception of export orders, lower across the board. Very weak, very disappointing. -Eric Green, TD Securities
-The key issue looking forward… is why orders dropped back after rising slightly in June? It might be a response to debt ceiling fears, or a reflection of weak consumption. Either way, it makes it hard to be a Q3 bull. Growth nearer 2% than 3%? -Ian Shepherdson, High Frequency Economics..."
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