Silver as an investment

Category Archives: Purchasing Managers’ Index

Stagflation Looms As PMI Shows Surging Costs And Sinking Growth

Following Manufacturing's drop, the US Services sector PMI disappointed in November, falling to its lowest since June (as business confidence tumbled to its weakest since February). Average selling prices soared as growth slumped setting the scene for a stagflationary future. ISM Services confirmed this weakness, tumbling to 3-month lows. Of course, between Markit and ISM, […]

US Manufacturing “An Increasing Drag On The Economy” As PMI Drops For First Time Since March

Following a stronger-than-expected Eurozone PMI print this morning, Markit reports a mixed bag for preliminary September US PMIs with Manufacturing limping higher but Services missing expectations and slipping notably. After 5 straight months of gains, the US Composite PMI dropped back below pre-election levels. As Markit notes, there were signs of underlying fragility in September, […]

Dow Set To Open Above 22,000 As Global Stocks Levitate Higher

Welcome to August: you may be surprised to learn that S&P 500 futures are once again levitating, higher by 0.3%, and tracking European and Asian markets. Asian equities traded higher across the board after China’s Caixin Manufacturing PMI beat expectations and printed its highest since March, refuting the decline in the official PMI data reported […]

US PMIs Tumble To 9-Month Lows, Catching Down To Collapse In ‘Hard’ Data

Following disappointment from China last week, and Europe this morning, US PMIs (both manufacturing and services) dropped and disappointed as it appears the lagged impact of China's slumping credit impulse are finally hitting the world's economies. With 'hard' data collapsing to 13 month lows, it is not surprising that 'soft' survey data is finally catching […]

US Services Sector Rebounds Despite Slump In Employment

Despite the hope-narrative-crushing drop in Manufacturing data (ISM/PMI), Services data in April (PMI/ISM) showed improvements. Markit PMI rose modestly despite continued input price inflation (21-month highs) and a plunge in employment (to its lowest growth since July 2010). ISM Services also showed employment slip but new orders exploded higher. ISM Services printed 57.5 – above […]

Stagflation Strikes Again As Manufacturing Sector Slumps To Post-Trump Lows

Confirming the weakness in the preliminary print (and on the heels of China's major disappointment), Markit's US manufacturing PMI tumbled in April to its lowest since September 2016. ISM's Manufacturing Survey confirmed PMI's for once and collapsed from 64.5 to 57.5. Worse still, stagflationary pressures remain as new orders and output slump, input prices are […]