Insights from Tim Fiore, the Institute For Supply Management’s Committee Chair for the Manufacturing Report
- Companies have burned off their backlogs of orders
- Demand is non-existent, and new orders not coming in
- Companies have started to take action to adjust cost structure, in June companies started to destaff. Dont expect to end throughout the summer, maybe Q4
- China and Europe’s assistance on new exports orders probably not happening for some time, as they are currently pretty weak
- Dont see the bottom yet for manufacturing
https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/pmi/june/
Welcome to Q3 - Please Prepare For A Very Bumpy Soft Landing - YouTube