Weak reading

  • Prior was +20

Details:

  • New orders 0 vs 26 prior
  • Shipments -2 vs +25 prior
  • Order backlog -15 vs +4
  • Employment +6 vs +5 prior
  • Wages +23 vs +21 prior
  • Prices paid 1.37% annualized
  • Prices received +1.08% annualized

Just a terrible report as the early-year optimism is wiped out.