In keeping with falling financial markets in the world’s biggest economies – the U.S., Europe and China – American manufacturing is also taking a hit, as even adjusting economic figures seasonally, often used as an accounting trick by Uncle Sam to put lipstick on a pig, cannot hide the obvious.
As reported by Zero Hedge, a few weeks after the July ISM (Institute for Supply Management) manufacturing report measured its lowest since March, the Markit manufacturing PMI (Purchasing Managers Index) was also released, coming in at just 52.9, below the expected index of 53.8 and down from last month’s 53.8, as you can see from the chart below.

“This was the lowest level since October 2013 and the biggest miss in exactly 2 years, with output, new orders and employment all expand at slower rates in August; Markit adds that ‘Input cost inflation picks up fractionally, but remains well below the survey average,'”


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