- Lowest since May 2020
- Prior was -9
- Manufacturing shipments -29 vs -14 prior
- Services index -7 vs +8 prior
- New orders -38 vs -16
- Capex +11 vs +20 prior
- Number of employees +23 vs +8 prior
- Prices paid +13 vs +15 prior
- Prices received +11 vs +9.5 prior
There's a clear decline in manufacturing sentiment nationally. To a large extent, that should be built into models because demand was never going to sustain covid levels. So it's a question of where it levels off, which should be back to the pre-covid trend.
