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. The U.S. ISM Manufacturing Index decreased to 49% in November. Click the Image to Enlarge
Percent of Central Banks Tightening vs. Global Manufacturing PMI Global policy tightening is putting downward pressure on global growth. Image: BofA Global Research
Earnings – Global Manufacturing PMI New Orders vs. World Trailing 12-Month EPS (Leading Indicator) Global manufacturing PMI new orders tend to lead world EPS growth by 12 months. Image: BofA Global Research
Central Banks – Global Monetary Policy Stimulus Leads Global Manufacturing PMI Global monetary policy stimulus tends to lead global manufacturing PMI by 8 months. Is a hard landing inevitable? Image: Topdown Charts
U.S. ISM Manufacturing Prices Paid vs. U.S. CPI Inflation (Leading Indicator) The U.S. ISM manufacturing prices paid index tends lead U.S. inflation by 3 months. Image: Macro Markets Daily
S&P 500 EPS Growth vs. ISM Manufacturing With a U.S. recession looming, a soft landing seems difficult to achieve. Image: Deutsche Bank Asset Allocation
Indexed Return of Cyclicals vs. Defensives ex. Commodities and ISM Manufacturing Index Equity industry rotations are pricing an economic slowdown. Image: Goldman Sachs Global Investment Research
U.S. ISM Manufacturing Prices Paid Index vs. U.S. CPI Inflation (Leading Indicator) The U.S. ISM manufacturing prices paid index tends lead U.S. CPI inflation by 3 months. Image: BCA Research
Manufacturing PMIs Manufacturing PMIs suggest that the industrial sector may continue to weaken ahead. Image: BofA Global Research
ISM Manufacturing Index vs. Discretionary Investors Positioning The correlation between discretionary investor equity positioning and ISM manufacturing is quite strong at 67%.