November U.S. Manufacturing PMI Up, Europe And China PMI Down
by: John Helzer December 1, 2011
Today we had two important concurrent economic indicators released. China’s Manufacturing PMI – two versions (HSBC-47.7 and Official-49.0) and US Manufacturing PMI-52.7. Eurozone’s Manufacturing PMI-46.4 was released a few days ago.
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Below is a graph of the ISM Manufacturing PMI, ECRI’s WLI Growth, US GDP, and the S&P 500 (SPY) since December of 1998. It appears that ECRI’s WLI Growth leads the ISM Manufacturing PMI slightly with both having a lead over the S&P 500 at turning points.
see charts at the link