Commentaries

October 05, 2018

The PMI and ISM Manufacturing Indexes came in at 55.6 and 59.8, respectively, for September. The PMI and ISM Services Indexes came in at 53.5 and 61.6, also respectively, for September. Overall, it was still a nicely expansionary profile for the U.S. Economy. U.S. Factory Orders remain in a nice uptrend, with August orders up 2.3%. Finally, the U.S. Unemployment rate dipped down to 3.7% in September from 3.9% in August. Average hourly earnings were up 2.8% year-over-year.
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September 28, 2018

U.S. new single-family home sales came in at a 629,000 unit rate for August, flat with July. Durable Goods Orders were up 4.5% for August, which was all transportation related. Second quarter Real GDP was +4.2% (on an annualized basis) with the GDP Price Index up 3.0%. Personal Income was up 0.3% for August, the same as for July. The Core PCE Price Index was flat for the month, and up 2.0% for the year ended August. Interestingly, Farm Prices were down 4.3% over the past year. Finally, the Chicago Purchasing Manager's Index came in at a nicely expansionary level of 60.4 for September.
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