ISM's Fiore: Data Suggest Weak Demand for 3-4 Months

The video discusses the disappointing performance of PMI sub-indexes, indicating weak demand and contraction in the manufacturing sector. Employment shifts show a balance between hiring and layoffs, with a trend towards destaffing. Lead times are decreasing, suggesting suppliers have capacity but face low demand. Economic uncertainty, driven by interest rate hikes, is causing reluctance in refilling order books, leading to a cautious outlook for the coming months.

What are the implications of the PMI sub-indexes being in contraction territory?

How has the hiring trend changed in the manufacturing sector according to the recent data?

What factors are contributing to the weak demand in manufacturing?

What does the term 'tentative buying' refer to in the context of current economic conditions?

In what ways are manufacturers preparing for a slower economic period?