US manufacturing data
- Prior was 52.8
- Lowest since Oct 2016
- Employment 53.7 vs 52.4
- Prices paid 53.2 vs 50.0 exp
- New orders 52.7 vs 51.7 prior
This was a tricky one to estimate because the survey period was right around the time that Trump announced new tariffs. That means more weakness is in the pipeline and if the Mexico tariffs hit it could get ugly.
