


Uncertainty - while mentioned a few times by respondents - plunged in May, according to the latest survey of Manufacturers by The Dallas Fed...
Source: Bloomberg
Across the board, almost everything improved (prices down is an 'improvement')...
Source: Bloomberg
Looking ahead, expectations for new orders and production surged higher while expectations for the tariff-induced hyperinflation hysteria we have been told was inevitable.. plunged...
Source: Bloomberg
Respondents had a few key themes (but in each they were mixed about the outcomes):
Uncertainty
Of course tariffs were a main topic of discussion:
Recession/Slowdown fears remain:
It seems the 'soft' data slump is starting to catch up to 'hard' data reality...
Source: Bloomberg
...who could have seen that coming!!??