U.S. ISM Manufacturing New Orders Index and U.S. GDP (Leading Indicator) The U.S. ISM Manufacturing New Orders Index is at the lowest level since 2009 and tends to lead U.S. GDP by 5 months. Image: Nordea and Macrobond
S&P 500 Ratio to 200 DMA and ISM Manufacturing PMI As the chart suggests, the S&P 500 is pricing a recession. Image: Deutsche Bank Asset Allocation
Global Manufacturing PMI Chart suggesting no global recession in 2020 and a U-recovery for the global economy. Image: Danske Research
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
ISM Manufacturing Index vs. S&P 500 Cash Flow Chart showing the correlation between S&P 500 cash flow and the ISM Manufacturing Index. Image: Raoul Pal
Relative P/E of Value Stocks vs. S&P 500 vs. U.S. Manufacturing PMI Index BofA remains bullish on value stocks in the coming months, due to improving macro conditions. Image: BofA U.S. Equity and Quant Strategy
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
Top 10 Countries by Share of Global Manufacturing Output China manufacturing accounted for 28.4% of the country’s total economic output. Could the ripple effects of the coronavirus affect China’s ranking? Image: Statista
% of U.S. Manufacturing Industries with YoY Decline in Production A recession hasn’t arrived yet in the U.S., with almost 75% of manufacturing industries with year-over-year decline in production. Image: Variant Perception
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…