Manufacturing Slowest in a Year
The ISM Manufacturing Report on Business was released today and the pace of manufacturing acceleration pulled back to its slowest in a year, 53.5. A number above 50 indicates that manufacturing is still growing, but the closer it gets to 50 the slower the acceleration is. The 53.5 reading is the slowest acceleration in a year and follows another steep decline in December’s rate.
Quotable: Euro-zone Official on New Greek Government
“Everybody [in the eurozone] wants a deal,” said one senior eurozone official. “But through their actions and their rhetoric, the new government is making a lot of people upset. They are putting themselves in an impossible situation.” – Chassany and Spiegel, Financial Times, Eurozone alarm grows over Greek bailout brinksmanship
What We’re Reading:
Burger Bubble: Shake Shack Prices IPO Above Expectations (The Wall Street Journal)
Jim Carrey’s a saint compared to the Comcast cable guy (WIRED)
When Even The Fed Is Confused About Gold (Forbes)
The Cost of Currency Wars (The Wall Street Journal)
Strong Dollar Whiners Attack The Strong Foot For ‘Shrinking’ Them (Forbes)