Independent thinking for complex markets and current events
Empire Fed Manufacturing index drops to 0.2, biggest fall since May 2023. I predicted this last month when it went ridiculously high for one period. A couple of things on PMI reports: First, don’t take any new print to mean anything significant. It’s a jagged sawtooth because they don’t do backward revisions. Just follow the …
BREAKING: US ISM Services PMI index tumbled to 52.1 in November, well BELOW expected 55.7. At the same time, ISM prices paid jumped to 58.2, above expected 57.0. New orders and employment fell to 53.7 and 51.5 below expected 56.6 and 53.0 Are stagflation fears coming back? BREAKING: US ISM Services PMI index tumbled to …
by confoundedinterest17 Sweet Home Chicago? After the unexpected resurgence in April, Chicago PMI plunged in May from 48.6 to 40.4 (against expectations of 47.3). That is the ninth straight month below 50 (in contraction)… Source: Bloomberg That is the longest streak of prints in ‘contraction’ since the Great Financial Crisis. Under the hood, none of …