- Prior reading was 52.1
- New orders 54.3 vs 53.3 prior
- Employment 49.3 vs 52.3 prior
- Prices paid 54.9 vs 48.9
Forget everything else, that employment number is worrisome. It’s the lowest since September and it correlates very well with NFP. It suggests that seasonal adjustment problems may have hidden weakness in the labor force.
