- Prior was -14.4
- Production +9.7 vs +0.8 prior
- New orders -9.2 vs -20.9 prior
- Prices paid +23.7 vs +22.6 prior
- Employment +14.0 vs +5.9 prior
- Company outlook -12.8 vs -15.2
The details are certainly stronger than the headline, though new orders remained negative for the seventh month in a row.
Comments:
- We’re now dialing in the very increased forecast of a significant downturn. Recession is now being planned for and acted upon. (paper manufacturing)
- We can feel things slowing down. Estimating activity is really down from previous months, and incoming orders have dropped off as well (printing)
- Demand is decreasing.(fabricated metals)
- We are seeing more and bigger orders recently. Oil companies are spending money on projects that they have held back on this past year. We expect 2023 to be a very good year. Our backlog of orders is growing to a record. (machinery)
- I think we are experiencing a year-end lull in business activity. We actually have no idea what to expect for 2023. (manufacturing)
- We have seen a small decrease in new orders, but wages and other costs continue to increase. We are investing in more automation to reduce the labor cost. (computers and electronics)
