Today’s ISM manufacturing PMI number spooked jittery US equity investors, sending stocks sharply lower (with VIX climbing above 20).
As we approach the 4th of July weekend, there are plenty of reasons to celebrate all the economic improvements we’ve witnessed in the US recently. After all, the Fed is talking “taper” because economic conditions are so much better than they were a year ago when the current round of quantitative easing was launched. Among other things, the nation is undergoing a manufacturing Renaissance. Except we ran into a bit of a “soft patch” this spring.
Today’s ISM report confirmed what was already visible in the Markit PMI figures (see discussion) – the “spring slowdown” in US manufacturing is here. The table below shows the breakdown of the month-over-month changes – orders and production seem to be…
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The Manufacturing ISM number did not surprise to the downside as Goldman’s GSAI was indicating (see discussion). The divergence between GSAI and the ISM has in fact widened, as the corporate sector exhibits a great deal of pessimism. Nevertheless US ma…
The Goldman Sachs Analyst Index (GSAI) hit a new post-recession low this month. The index is a composite of corporate outlook by industry from Goldman’s company research. In the past, the index generally fell in line with other economic activity indice…
Today’s employment report has sent the Citi Economic Surprise index sharply higher.Citi Economic Surprise IndexThis is building on earlier momentum from stronger than expected US economic indicators such as the ISM PMI results.Manufacturing (white) and…
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US May manufacturing growth slows: ISM (via AFP) Growth in the US manufacturing sector slowed in May as the pace of production dropped on falling…
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