Results of Germany’s IFO business climate survey for April sent a positive message on Tuesday. The overall Business Climate Index increased from 87.9 to 89.4, beating expectations of 88.9. Assessments of both the current…
Flash estimates for several European PMIs were released Tuesday. The results for manufacturing activity were somewhat disappointing. The German manufacturing PMI increased from 41.9 to 42.2, but underperformed expectations of…
Preliminary S&P PMIs for the US showed the manufacturing index declined to contraction territory of 49.9 from 51.9, falling short of expectations of 52. The services PMI also disappointed coming in at 50.9, versus…
We look beneath headline data to assess the state of the labor market in cyclical goods-producing industries that have previously led overall nonfarm payrolls and in the services segments that have recently been leading the charge.…
Fears of a hard landing are abating as growth has been surprising to the upside. New worries are emerging, such as the trajectory of disinflation, and the pace and timing of rate cuts. In this environment, it is important to build a…
The final UK S&P Global Services and Composite PMIs for March were both revised down slightly from their flash estimates. While the report indicates that activity is still expanding, there has been a clear loss in momentum…
The US manufacturing sector appears to be enjoying a revival. As we highlighted yesterday, the ISM manufacturing PMI unexpectedly returned to growth in March and the S&P Global US manufacturing PMI remains in expansion…
Does the recent surprise rate cut by the Swiss National Bank augur other dovish surprises among major central banks in Europe?
The flash PMI estimates for March produced a mixed update on manufacturing and service sector activity in the US and Eurozone. In the US, the results suggest that growth is more resilient in the manufacturing…
The US ISM Services PMI declined slightly to 52.6 in February, just below expectations of 53. Overall, the service sector continues to expand, however, the recent ISM suggests that growth is slowing down. In fact, most of the…