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Tag Archives: MANUFACTURING
CHICAGO FED INDEX SLIPS NEAR DANGEROUS LEVEL
An index level at or below -0.70 typically has indicated negative U.S. economic growth. We have had –.61 in December, –.39 in November and –.83 in October. There is a correlation of about 80% between the Chicago Fed Index and … Continue reading
Posted in ***RECOVERY WATCH, MANUFACTURING, US economy
Tagged ***RECOVERY WATCH, MANUFACTURING, US economy
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STRONG US LEI BUT SLOWER PHILLY FED INDEX
Yesterday, I missed these 2 stats: Leading U.S. economic indicators increased 1.1% in December and have risen for nine straight months, suggesting "that the pace of improvement could pick up this spring," according to a report released by the Conference … Continue reading
US RE-STOCKING PHASE UNDERWAY
Corporate inventories have been surprisingly resilient so far as companies have been very cautious after the collapse in profits in Q4 2008. While retail sales have yet to show any clear upward trend, the Christmas season has been good enough … Continue reading
Posted in ***RECOVERY WATCH, MANUFACTURING
Tagged ***RECOVERY WATCH, MANUFACTURING, US economy
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World’s Factories Rebound
Nice WSJ set of charts summarizing yesterday’s PMI reports from the US, Europe and Asia. The mounting evidence of a global manufacturing rebound gave world stock markets a boost on the first trading day of the new year. The Dow … Continue reading
December 2009 Manufacturing ISM at 55.9
Unsurprising, given previous manufacturing indicators for December. Very strong overall, much like Asia and Europe PMI reports. But customer inventories continue to decline and the backlog of orders retreated from 52.0 to 50.0 in spite of strong new orders. "The … Continue reading
Manufacturing Sector Expands in Euro Zone, U.K.
(…) According to Markit Economics, the PMI for the euro zone’s factory sector rose to 51.6 from 51.2 in November. (…) Data also showed the U.K. manufacturing sector expanded at its fastest pace for over two years in December. The … Continue reading
Manufacturing Activity Accelerates in Asia
(…) Manufacturing indices in China, South Korea, Taiwan and India showed continuing expansion in December. The findings were particularly strong in China, where a number of other measures indicate the economy — a key regional catalyst — likely grew at … Continue reading
NY ISM INDEX DECLINES FROM 62.9 TO 59.7
The Current Business Conditions index came in at 59.7 in December, expanding for a fifth consecutive month, albeit at a slower rate than November’s 62.9 level. Future optimism has become very widespread a good kind of contagion. The Six-Month Outlook … Continue reading
As RV sales go, so goes the economy
The Chicago Tribune (via The Buffalo News) had a positive article on the RV industry. While I see why it would lead on a downturn, I fail to see how it can be an early indicator in an upturn. Anyway, … Continue reading
TEXAS MANUFACTURING FLAT IN DECEMBER
Within ten days, we have had the Philly Fed survey (current activity UP, outlook DOWN), the Chicago Fed survey (UP nicely), the Richmond Fed survey (current activity DOWN, outlook UP)and now the Dallas Fed survey (current FLAT, outlook UP). That … Continue reading
RICHMOND FED SURVEY OF MANUFACTURING DOWN
Within one week, we have had the Philly Fed survey (current activity UP, outlook DOWN), the Chicago Fed survey (UP nicely), and now the Richmond Fed survey (current activity DOWN, outlook UP). That can only lead to “mixed feelings”! Manufacturing … Continue reading
CHICAGO FED NATIONAL ACTIVITY INDEX
Led by improvements in production-related and employment-related indicators, the Chicago Fed National Activity Index increased to –0.32 in November, up sharply from –1.02 in October. Two of the four broad categories of indicators that make up the index improved, although … Continue reading
