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The industrial sector could be poised for a lift as mega spending projects kick in. Why capital investment in infrastructure has been lagging.
The index plummeted all the way down to -31.8, the lowest since January when the index reached a slightly worse -32.9. The month-over-month declines across many categories were nothing short of historic in May.
The Empire State Manufacturing Index rates a level above 0.0 indicates improving conditions, below indicates worsening conditions. Since this survey only goes back to July of 2001, we only have two complete business cycles with which to evaluate its usefulness as an indicator for the broader economy.
The September S&P Global US Manufacturing PMI came in at 52.0, up 0.5 from the final August figure. The brightest signs of life are coming from the domestic market, with producers of both consumer goods and, most notably, business equipment reporting improved sales to the home market.
The Dallas Fed released its Texas Manufacturing Outlook Survey (TMOS) for September. The latest general business activity index came in at -17.2, down 4.3 from last month.
The manufacturing sector continues to be plagued by supply chain problems while demand is weakening. A post-pandemic reshuffle is in the making, with demand weakening and supply becoming less disrupted.
We are bearish on all American bear market ETFs. Measuring the purchase levels of short ETFs replaces the old, odd lot and total short selling indicators so popular in the 1960s, 70s and 80s.
The latest headline Purchasing Managers' Index was 55.4, a decrease of 1.7 from 57.1 the previous month and in expansion territory. Today's headline number was below the Investing.com forecast of 57.6.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.