Philly Fed Manufacturing Index and Empire State Manufacturing Survey and ISM Manufacturing Index Despite the coronavirus, both regional PMIs suggest an increase in U.S. ISM manufacturing this month. Image: Swedbank Research

U.S. ISM Manufacturing Index vs. U.S. Core CPI (Core Inflation Leading Indicator) US annual core CPI in November stayed unchanged at 2.3%. This chart suggests that the U.S. ISM Manufacturing Index leads U.S. Core CPI by 24 months. You may also like “ISM Manufacturing Index vs. S&P 500 Index” and “U.S. Core Inflation Expected Over…

Economy – Where People Are Losing Faith in Capitalism? Some countries appear to have more confidence in capitalism than others. Image: Statista

ISM Manufacturing Index vs. ISM Non-Manufacturing Index The ISM Non-Manufacturing Index increased to 55.5% in January and suggests faster expansion in January than in December. Image: Oxford Economics

S&P 500 and ISM Manufacturing Index In recent history, when the ISM Manufacturing Index rose above 50, the S&P500 rose by about 2% on average over the next 3 months Image: Nordea and Macrobond

ISM Manufacturing Index vs. S&P 500 Index This chart shows the correlation between the ISM manufacturing index and the S&P 500 index year-over-year percent change, since 2011. U.S. ISM Manufacturing Index increased to 50.9 in January. Keep in mind that it is a survey. Click the Image to Enlarge

U.S. ISM Recession Probability Chart showing that historically, a level greater than 44.5% has indicated a recession. Current U.S. ISM levels suggest a recession probability of 10%. Image: Pictet Asset Management

S&P 500 When ISM Manufacturing Index Rises Above 50 When the ISM Manufacturing Index rises above 50, U.S. Treasuries and the U.S. dollar tend to weaken, while the S&P 500 tends to rise. Image: Nordea and Macrobond

Global Equities Flows and ISM Chart showing the correlation between global equities flows and ISM. Image: Goldman Sachs Global Investment Research

U.S. ISM Manufacturing Production Index Leads U.S. GDP Chart suggesting that the U.S. ISM Manufacturing Production Index leads U.S. GDP by 5 months. Image: Pictet Wealth Management