US ISM: Inventories hold the key to understanding what is happening – Wells Fargo – by MSalordFX UnitedStates Manufacturing Banks
Data released on Monday showed the ISM Manufacturing Index dropped during September more than expected to the lowest level in two years. According to analysts at Wells Fargo, key measures point to slowing activity, but it is inventoried that hold the key to understanding what is happening in the sector today. They argue that “firms are tired of having input prices weigh on profits, but are also leery of procuring hard-to-get supplies.
“Tired of having input prices weigh on profits but also leery of procuring hard-to-get supplies, firms are now trying to mitigate both risks by making sure someone else in their supply chain is holding the inventories. This is clearly stated by a representative from the food & beverage industry said, "It seems no one wants to keep inventory on hand anymore.”
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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