U.S. Nonfarm Payrolls vs. U.S. ISM Manufacturing PMI When the U.S. economy experiences a period of weakness, it commonly results in a subsequent decline in nonfarm payrolls. Image: BofA Global Investment Strategy
ISM Manufacturing PMI and ISM New Orders – Inventories The U.S. ISM New Orders less Inventories spread suggests a potential rise in the ISM manufacturing PMI, as new orders are increasing at a faster pace than inventories. Image: BofA Global Investment Strategy
ISM Manufacturing PMI vs. ISM New Orders – Inventories The U.S. ISM New Orders less Inventories spread continues to suggest a higher ISM Manufacturing PMI. This correlation points towards a positive outlook for the manufacturing sector. Image: The Daily Shot
ISM Manufacturing PMI and Stock-to-Bond Ratio The stock-to-bond ratio anticipates a recovery. Image: Alpine Macro
Big 4 Asia Imports vs. ISM Manufacturing PMI The weak demand in Asian markets is affecting various industries and economies worldwide. Image: BofA Global Investment Strategy
Global Manufacturing PMI and Global Consumer Discretionary vs. Staples The global consumer discretionary vs. staples relative performance suggests that the global manufacturing PMI could be trending towards expansion, which is good news. Image: Topdown Charts
ISM Manufacturing PMI and U.S. Recessions When the U.S. ISM Manufacturing PMI falls below 45, recession risks are rising significantly, as the manufacturing sector is experiencing a sharp decline. Image: BofA Global Investment Strategy
U.S. Dollar Index (DXY) vs. Manufacturing PMI (U.S. Minus Global Ex-U.S.) Will the U.S. dollar continue to weaken? Image: BCA Research
S&P 500 Price Returns Based on U.S. ISM Manufacturing PMI Levels The U.S. ISM Manufacturing PMI between 45 and 50 is historically bullish for U.S. stocks over the next 12 months. Image: MarketDesk Research
Russell 2000 / S&P 500 vs. ISM Manufacturing PMI (Leading Indicator) The performance of U.S. small caps relative to the S&P 500 suggests a decline in the ISM Manufacturing PMI. Image: Morgan Stanley Research