Philadelphia Semiconductor Index (SOX) Leads Global Manufacturing PMI by Three Months This chart suggests that the rally in semiconductor stocks may herald a global growth rebound. Image: Oxford Economics, Macrobond
ISM Manufacturing Index vs. Richmond Fed Survey The Richmond Fed survey suggests that the ISM Manufacturing Index could plunge to 45, but the Empire State Manufacturing Survey is a better predictor over the past two years. Image: Lohman Econometrics
ISM Manufacturing Index vs. Predictors The chart shows that the Empire State Manufacturing Survey is a better predictor of the ISM Manufacturing Index over the past two years. Image: Nordea and Macrobond
ISM Manufacturing Index vs. Philly Fed Today, the Philadelphia Federal Reserve Manufacturing Index at 21.8 suggests that the ISM Manufacturing Index should remain above 50. Image: Nordea and Macrobond
World PMI Manufacturing Most regions are now in contraction territory, except the United States. Image: Pictet Wealth Management
Manufacturing Payrolls vs. ISM PMI Manufacturing payrolls are usually quite volatile, but this interesting chart could suggest a rebound in the ISM PMI. Let’s wait for confirmation in the second half of the year. Image: Hayek and Keynes
Global PMI for Manufacturing Global PMI for manufacturing slides to lowest since 2012. Image: J.P. Morgan Asset Management
World Manufacturing PMI World manufacturing PMI declined again. This is the longest consecutive decline (14 months). Image: Frederik Ducrozet
Global PMI & US ISM Manufacturing Indices This chart suggests that Global PMI Manufacturing Index leads US ISM Manufacturing Index by two months. Image: Capital Economics
ISM Manufacturing Index vs. Cass Freight Index The Cass Freight Index (white bar chart) is a measure of monthly North American freight activity. It suggests that the ISM Manufacturing Index (green line) could go lower if the U.S. economic slowdown persists. Image: Greg S.
10-Year German Bund Yield and German Manufacturing PMI The 10-year German Bund yield could go positive again as recession fears dissipate. Image: Pictet Wealth Management