Temporary Help Services Jobs vs. Real GDP and U.S. Recessions Temporary Help Services Jobs stand at -7.74% YoY in June. The relationship between Temporary Help Services jobs and the macroeconomy is complex. Declines in Temporary Help Services Jobs are often considered a leading indicator of a potential recession (red line at -3.5%), but they do…
U.S. ISM Manufacturing and Services Survey Data A “soft recession” occurs when the manufacturing side of the U.S. economy contracts while services remain robust, leading to a period of slower economic activity. Image: Real Investment Advice
U.S. ISM Services Prices Paid Index vs. U.S. CPI Inflation (Leading Indicator) The U.S. ISM Services Prices Paid Index tends to lead U.S. CPI inflation by 2 months. Are Fed rate cuts still likely in 2024? Image: Deutsche Bank
Inflation – CPI Services vs. PPI Services and ISM Non-Manufacturing Prices Paid (Leading Indicator) The ISM Non-Manufacturing Prices Paid and PPI services tend to lead CPI services by 9 months. Image: Alpine Macro
Inflation – ISM Services Business Prices vs. Copper The rise of copper prices is a cause for concern as it can lead to higher prices for a variety of goods and services. Image: Steno Research
U.S. Equity Risk Premium vs. ISM Manufacturing and ISM Services The equity risk premium is likely to rise if a U.S. recession occurs this year. Image: Goldman Sachs Global Investment Research
Inflation – U.S. ISM Services PMI vs. U.S. CPI The ISM Services PMI tends to lead U.S. CPI by three months. Image: Morgan Stanley Research
U.S. Recessions and ISM Services PMI The ISM Services PMI below 50 is a warning signal of a coming recession in the United States. Image: Morgan Stanley Research
U.S. ISM Services PMI The U.S. ISM Services Index came in much higher than expected in November. Could the Fed be more hawkish? Image: The Daily Shot
Margins – PPI Trade Service Index, Unit Labor Costs and U.S. Core CPI Are margins at risk in 2023? Image: Pantheon Macroeconomics