The Chicago-area manufacturing survey:
- Prior was 53.6
- Employment contracted
- New orders expanded at a slower pace
- Prices paid rose 25% to the highest in 17 months
- Supplier deliveries rose
- Production edged higher
- Order backlogs lowest since Dec
"order patterns continued to be plagued by a lack of large orders and absence of international demand, purchasers said."
That sounds like the strong dollar is weighing but the latest trade report showed a smaller-than-expected US trade deficit.
"Inventories rose 5.6 points to 49.6, the highest since October as some companies noted difficulty in restocking from offshore suppliers."
That's a bit of a contradictory statement. Inventories rose but it was tough to fill the inventories?