Thursday, Apr 01, 2010
I don't believe this
Reuters: Manufacturing PMI hits 15-year high
I'm not sure how the PMI can be rigged to suit government propaganda but I don't see manufacturing output improving. Perhaps there's an increase in the number of Purchasing Managers accepting "bungs" from suppliers, who are struggling themselves, to buy stock that's not really needed.
Posted by mr g @ 11:42 AM (1031 views) Add Comment
17 Comments
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1. smugdog said...
Spring has sprung!
And then my heart with pleasure fills,
And dances with the daffodils.
2. mr g said...
The more I here from you Smugdog, the more I'm in favour of stricter birth control.
3. mark said...
and my car tax has gone up today by 200 quid, there is no point at all to staying in this country, full of lies, idiots obsessed with jordan and upstarts thinking they are clever like smug
4. smugdog said...
You rejoice at the great loss in employment, yet show sorrow at a resurgence in Manufacturing.
Oh what can ail thee, knight at arms So haggard and so woe-begone?
Err……. Get over yourself.
Mr G, are you my long lost father? Daddy!
5. quiet guy said...
@Mr G
Unless you want to live in a poorer country, I don't see why manufacturing growth should be considered a bad thing. This report may be a sign of badly needed real economic activity instead of asset speculation.
@Smugdog
Enjoy the sunchine while you can! After the election, we're going to have to knuckle down to debt repayments and the government won't feel the need to bribe housedebtors any more.
6. mr g said...
@Smugdog "You rejoice at the great loss in employment, yet show sorrow at a resurgence in Manufacturing."
@ Quiet Guy "Unless you want to live in a poorer country, I don't see why manufacturing growth should be considered a bad thing"
I spent 44 years in manufacturing plus 2 periods of unemployment totalling 15 months, due to firms going out of business. Therefore as I have "been there, done it", I am the last person to rejoice about people losing their jobs.
Manufacturing is the life blood of any economy and we ignore that at our peril. However, I have always been sceptical about the PMI as, having worked closely with Purchasing functions for many years, I can assure you that this is not always a conclusive measure of manufacturing activity.
7. smugdog said...
Mr G, my comments were not aimed at you, Daddy.
8. mr g said...
Smugdog, I assure you that my comments aren't aimed at you with malice.
I'm intrigued as to your age though.
9. uncle tom said...
So, having emerged from a really miserable winter, the purchasing managers are feeling a bit happier than a month ago..
..that doesn't really reveal much..
10. Wageslavex19 said...
So was this not an April fool?
11. Sittingitout said...
I'm in niche lighting and I have just seen two consecutive months of record volumes.
I believe it is partly due to re-stocking the de-stocking exercise that occurred and the lower value of Sterling.
12. Cautiously Optimistic said...
I thought this site was House Price Crash, not Whole Economy Crash....
I agree the PMI numbers aren't ideal, however from the coal front, so to speak, I work for a UK manufacturer and we're teeing up a record Q2 after a better than expected Q1. If manufacturing is up all over the world, it follows the small number of UK companies exporting will be feeling the benefit... if we can't do it now with the £ where it is, then we really don't have a hope in the future
13. 51ck-6-51x said...
I believe this, a big upswing in positive sentiment among purchasing managers..
I also regard it as a good thing: I don't care much about nominal house prices, but rather the affordability of those necessities for a functioning society (like housing).
14. alan said...
"The message from the PMI survey on jobs was less upbeat. While most firms were holding employment levels steady, 15 percent reported job cuts, due to cost-cutting and redundancies, and it is almost two years since there was net hiring". The survey said....so who buys these new houses, then?
15. Braveheart said...
Just to chip in, I work in manufacturing, and it really is very very strong right now.
We think it's restocking rather than real end user demand and will slow next year.
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