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Another Regional Fed Survey Collapses - ISM Milwaukee Crashes To 2009 Lows

Milwaukee joins the party with its lowest ISM print since April 2009. Based on the regional Fed survey collapse - Dallas, Richmond, New York, Philly, Chicago, and even Kansas City - it's unanimous - they are all flashing recessionary warnings.

 

ISM Milwaukee fell to 39.44, its biggest drop since July 2012 and lowest print since April 2009

 

Under the covers the data is a disaster.

  • New Orders hammered (35.51 from 47.52)
  • Employment plunged (41.88 from 47.04) - lowest on record
  • Inventories collapsed (31.25 from 53.57)
  • Order Backlog crashed (37.50 from 57.14)

 

Charts: Bloomberg