ISM Manufacturing: Economy Remains in Teeth of the Recession
ISM Manufacturing: Economy Remains in Teeth of the Recession
December’s ISM manufacturing index came in at 32.4, well within recession territory and consistent with levels of the 1980-82 recession period. Weakness remains in new orders, production and employment. The inventory correction is ongoing. Prices paid fell sharply to 1949 lows and suggests lower inflation ahead.
Manufacturing Weakens […]
Canada’s Economy Slowed Less than Expected in October
Canada’s Economy Slowed Less than Expected in October
Canadian GDP contracted by 0.1%, less than the 0.3% expected by forecasters. However the report showed weakness in both the goods and services areas of the economy with goods-production experiencing no growth and services production falling 0.2%.
In the goods sector, the weakness was concentrated in the manufacturing and […]
Final US Q3 GDP Growth Estimate Left Unrevised
Final US Q3 GDP Growth Estimate Left Unrevised
The final, or third, estimate of Q3 GDP growth was left unchanged at -0.5% relative to the preliminary estimate that was released last month. Market expectations had been for the growth rate to remain unrevised.
The unchanged GDP growth rate reflected limited revisions within the major expenditure components. There […]