Manufacturing Data Not Signaling Recession: ISM's Fiore

ISM Manufacturing Business Survey Committee Chair Timothy Fiore discusses the organization's June manufacturing data with Guy Johnson and Mike McKee on "Bloomberg Markets." The ISM's gauge of manufacturing activity weakened in June to a two-year low as new orders contracted.

[hypercube]

The manufacturing data is intentionally distorted. The formula was changed earlier this year. the reports were retroactively adjusted. The Fed states this clearly in their monthy reports at the time.

[Quantitative_Teasing]

We could be in a depression and this guy will still be bullish on his ISM numbers

[fee]

Farmers are planting less food and face low harvest world wide. What happens in the fall/winter in the commodity market when commodity contracts cannot meet physical deliveries of wheat/grains. To avoid daily penalties delivery shortfalls will be met by desperate buying to fulfill obligations or face bankruptcy.

[AshCosgrove]

Uh huh, meanwhile the Atlanta fed is reporting a -2% GDP for this quarter. We're in a recession, and the media won't talk about it until the midterms are over.

[alex]

We have alot of work, OT! N hiring more ppl.

[Rickyyhu]

Everyone has been surprised all year, seems a lot of people should be fired after the first surprise. I'm expecting many more surprises towards the end of the year, no surprise on my end.

[johnwhitworth]

noo waht happing in manufacturing right now is something that no one wants to talk bout. is the retiring workers, with no replacement. so new workers are less skilled

[truepersona]

INFLATION IS PAINFUL.
The US FED will keep on raising interest rates to the point the economy reaches stagflation at which point it will stop the hikes. Reason is US FED wants to raise the interest as high as possible so it can get rid of the NINE TRILLION DOLLARS from its balance sheet via the domestic and foreign investors. This process will take at least a decade. All fiat currency created BUBBLES such as the stock, housing, corporations, etc will go BUST. This will be the longest RESET and RECESSION in USA history.

[jesuschrist]

There wouldn't be a recession because of the infrastructure stimulus. Recession happens when unemployment rate is high. The infrastructure stimulus would require a lot of labor creating lots of jobs. Governments looking for a soft landing should pass stimulus before raising rates. Stimulus BEFORE recession and not after and we'll skip recession.