For this measure, 50 is neutral. Below is negative, above-positive.
"Both the manufacturing PMI and the ISM are telling the same story, that growth was solid in January and accelerated from what was a soft December. ISM's composite index rose 2.3 points in January to a 56.6 that is near Econoday's high estimate.
At 58,2, new orders rebounded nearly 7 points following a nearly 11 point drop in December and, like the manufacturing PMI, the strength was centered in domestic markets as export orders slowed to the slowest rate of growth in two years. Production in January was strong for the ISM sample, up nearly 6-1/2 points to 60.5. And sample added to inventories while cost inflation, also the PMI report earlier this morning, flattened noticeably."
I’m curious why you never post housing data or consumer confidence data?
LOL. I have you to look for whatever bad news you can present. <G> True, consumer confidence took a hit recently, but remains at historically high levels and will likely gain over the next few months. Housing has taken a hit from the jump in rates and lower inventory resulting from a long term over heated market.
But we did had a nice uptick in new home sales in November.. So, just for you, some housing data.
"The outlook for fourth-quarter residential investment just improved as new home sales jumped 16.9 percent in November to a 657,000 annualized rate."
"I’m curious why you never post housing data or consumer confidence data?"
Great question. The answer is that we are a forum that does best when everybody posts what they think is important and contributes ..........even more than currently vs depending on others to provide it.
Your previous contributions are much appreciated. Please consider being our consumer confidence and housing data poster next time this question comes up .........or posting whatever data you feel inclined to show, whenever a similar thought crosses your mind.
And a huge THANKS Tim!