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
U.S. ISM Manufacturing Production Index Leads U.S. GDP Chart suggesting that the U.S. ISM Manufacturing Production Index leads U.S. GDP by 5 months. Image: Pictet Wealth Management
U.S. ISM Non-Manufacturing Index (All History) Chart suggesting that the U.S. non-manufacturing sector is slowly improving. Image: Nordea and Macrobond
ISM Non-Manufacturing Index and U.S. GDP Growth Chart showing the good correlation between the ISM Non-Manufacturing Index (6M lag) and U.S. GDP growth. Image: Jeroen Blokland
ISM Non-Manufacturing Index vs. U.S. GDP The chart shows the good correlation between ISM Non-Manufacturing PMI and U.S. GDP. Image: Piper Jaffray
Daily Percentage Change in the Philadelphia Semiconductor Index (SOX) The Philadelphia Semiconductor Index (SOX) fell 10.26% last Friday, its sharpest decline since March 2020. The long-term story remains intact, but expectations had clearly overheated. Image: Deutsche Bank
U.S. ISM Services Prices Paid Index vs. U.S. CPI Inflation (Leading Indicator) The ISM Services Prices Paid Index typically leads U.S. CPI by about three months, offering an early read on where inflation is heading. It has now surged to its highest since 2022. Image: Deutsche Bank
U.S. Nonfarm Payrolls vs. U.S. ISM Manufacturing PMI The U.S. ISM manufacturing index reading below 50 signals a contraction in manufacturing activity, which may impact payroll numbers. However, the relationship between the index and actual payroll figures is not straightforward. Image: BofA Global Investment Strategy
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
ISM Manufacturing PMI and S&P 500 Operating Margin The Manufacturing Purchasing Managers Index has peaked. Will S&P 500 operating profit margins roll over? Image: Morgan Stanley Wealth Management
ISM Manufacturing vs. S&P 500 Performance More than 90% of the gains in the S&P500 Index have occurred when the ISM Manufacturing Index rises. Image: Alpine Macro