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Reading PMIs: A Cautionary Note

September 24, 2020 by Jonathan Custer

The flash Purchasing Manager Indices (PMI) have just been released by Markit, which shows the manufacturing sectors in the U.S. and Europe continue a strong rebound. IHS Markit Flash U.S. Manufacturing PMI™ Manufacturers indicated the fastest improvement in operating conditions since January 2019 in September, as highlighted by the IHS Markit Flash U.S. Manufacturing …

Computer & Electronic Product Output Continues To Outperform

September 23, 2020 by Jonathan Custer

Summary Industrial Production (IP) rose for its fourth consecutive month after March and April’s sharp contraction (Chart 1) IP remains 7.6 percent below its December 2019 level (Chart 1) Durable Manufacturing output was up 0.7 percent in August, led by Computers and Aerospace products (Chart 2) Computer & Electronic Products (CEP) continue to significantly outperform …

Q3 U.S. GDP Growth Set For 30% But No V-Shaped Recovery

September 14, 2020 by Jonathan Custer

· The U.S. economy is set for a sharp rebound in Q3 · The Atlanta Federal Reserve’s GDPNow estimate for Q3 GDP growth is currently running at a stunning 30.7 percent annualized rate (6.9 percent q/q), which is almost 2x the prior highest quarterly GDP print on record, registered in Q1 1950 (Chart 1) · …