COTD = Charts of the Day The headline index from Markit’s flash PMI signals that the worst may be over in the US economy’s soft patch, though Q4 growth looks weak. It was the fourth consecutive monthly improvement in the manufacturing PMI output index, which came in at 52.2, up from 51.3 in October.     …

COTD = Chart of the Day Nice chart from Mark Zandi from Moody’s Analytics.   The biggest risk as illustrated in the chart from a macro and micro perspective to the electronics manufacturing industry is an escalation of the trade war.  

The Atlanta Fed’s GDPNow dropped its forecast of Q4 growth to just 0.3% from 1.0 percent. The New York Fed’s GDP Nowcast is showing a gain of 0.4%. Today’s two economic releases indicating lackluster retail sales, consumers purchases of big-ticket items disappointed, and a dismal -0.8 percent industrial production print for October were largely responsible for GDP forecast revisions. …