It indicates that at least in the month of June, the manufacturing sector of the economy contracted and there is meaningful evidence of, at a minimum, disinflation," he said.

Time for the corporates to spend. The money supply is inflated and the banks are still lending. Companies are all cashed up and there's a limit to what cunsumers can spend. It's the companies turns now.

This news might not be enough for a QE3. Bump in the road or trend?