US Manufacturing Activity Shrinks for Seventh Straight Month

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00:00What it means is a little change in the outlook, at least, for the manufacturing sector.

00:0649.1 from 48.7, not a big change, and it is still in contraction level.

00:12Price is paid.

00:1361.9 from 63.7 continues to go down.

00:17That is some good news, except it's still at a very elevated level.

00:21And then employment, 45.3 from 43.8.

00:24That is a better than expected number.

00:26But again, we're looking at numbers that are all in the 40s here,

00:29and that signifies contraction.

00:31Anything below 50 roughly does, and that is not good news.

00:35The ADP number this morning is at 2,000 manufacturing jobs lost.

00:41So that is certainly a possibility for the nonfarm payrolls number we probably aren't going to get on Friday, Matt.

00:48I just want to point out, prices paid is not below 40.

00:52That's above 60, which isn't great, right?

00:56Working the other direction, yeah.

00:57Because that's a number that we want to be lower, I would imagine.

01:01It is a little bit lower than the estimate.

01:04Well, we have to look at what the comments are and what people are saying about individual categories of costs for them.

01:10But it does look like we're still seeing some tariff impacts in the pricing of goods.

01:15For now, we're soon to go.

01:16Thank you, everyone.

01:17Thank you, sir.

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