ISM: US Services Sector Expands for 8th Straight Month in February While Concerns Over Trump Tariffs Darken Outlook
–ISM Services Index at 53.5 in February Vs. 52.8 in January, Above Median Forecast 52.7–ISM’s Miller: Services PMI Has Been Trending Down but More Stable Now, Points to Sustained Growth on Year–Miller: Jump in ISM February Manufacturing Prices Paid Index Amid Higher Commodities Markets Not Yet Feeding Through to Services Prices By Max Sato (MaceNews) […]
TARIFFS STATE OF PLAY: Confusion as Tariffs and Tariff Threats Multiply
WASHINGTON (MaceNews) – As one round of tariffs took effect Tuesday and more were threatened, rampant uncertainty permeated plunging U.S. stock markets while interest rates continued to dramatically ease. Analysts found themselves giving contradictory assessments on the business channels as the probabilities for more Federal Reserve rate cuts this year were coupled with dire predictions […]
US ISM Manufacturing Stays Just Above Neutral Line in February after Ending 2 Years of Contraction in January as Trump Tariffs Trigger Greater Uncertainties
–ISM Manufacturing Index at 50.3 Vs. 50.9 in January, Below Consensus (50.5)–ISM’s Fiore: February Report ‘Overshadowed’ by Tariff Talk among Firms–Fiore: Lower New Orders, Higher Inventories, Slower Supply Deliveries ‘One-Month Blip, Might Clear Up in March or April–Fiore: This Doesn’t Indicate Decline in Overall ISM Manufacturing Activity By Max Sato (MaceNews) – U.S. manufacturing activity […]
UPDATE: Fed Officials Take Cautious Approach to Further Rate Cuts As Late Jan FOMC Nears
– Harker Still Sees Rates Heading Lower; But Now ‘Appropriate To Take A Pause’ – Collins Calls for ‘Patient Approach to Policy’; Cuts Could Go Faster or Slower – Schmid: Funds Rate May Already Be ‘Neutral;’ Favors Further Balance Sheet Shrinkage – Bowman Urges ‘Caution;’ Monetary Policy Not As Restrictive As Some Think By Steven […]
ISM: US Services Sector Expands for 4th Straight Month in October on More Jobs but Surprise Index Rise Also Caused by Slower Deliveries in Wake of Hurricanes
–ISM Services Index at 56.0 Vs. 54.9 in September, Well Above Median Forecast 53.5 –ISM’s Miller: Index Likely to Slip Back to 53 or 54 in November as Impact of Hurricanes Subsides –Miller: Positive Comments Spreading to More Industries but Uncertainty over US Political Climate Lingers By Max Sato (MaceNews) – Business activity in the […]
Japan Government Slightly Upgrades Its View on Economic Recovery after BOJ Conducts 2nd Rate Hike in July
By Max Sato (MaceNews) – Japan’s government upgraded its overall economic assessment for the first time in six months, noting consumer spending is supported by wage hikes and temporary income tax credits, but the change in wording is subtle and it continues to say the economy is recovering “moderately.” In its monthly report for August […]
ISM: US Services Sector Unexpectedly Slips Back into Contraction; Key Index Hits Lowest Since Early Phase of Pandemic Slump
US service business contracts in June
US June ISM Manufacturing in Contraction for 3rd Straight Month as Demand Remains Weak amid High Interest Rates
–ISM Manufacturing Index Dips to 48.5 from 48.7 in May, Below Median Forecast of 49.1–ISM’s Fiore: Biggest Concern in June Report is over Falling Production–Fiore: Employment Unlikely to Expand Without Significant Pickup in Demand–Fiore: Manufacturing Still ‘Stable’ During Summer Months When Activity Slows Down By Max Sato (MaceNews) – U.S. manufacturing activity was in contraction […]
FOMC Holds Funds Rate Steady; No Rate Cut Til Confident Inflation Headed to 2%
–Fed Officials Project Single 25 BP Rate Cuts in 2024 –Powell Calls CPI ‘Encouraging,’ But Wants More Data To Gain ‘Confidence’ By Steven K. Beckner (MaceNews) – The Federal Reserve’s policy making Federal Open Market Committee again held the federal funds rate steady Wednesday and gave no indication it will be cutting that key money […]
TRANSCRIPT: Fed’s Powell Says Waiting for Better Inflation Data, In Addition to ‘Encouraging’ CPI Report
WASHINGTON (MaceNews) – Federal Reserve Chair Jerome Powell’s bottom line is that more inflation data is needed before any rate cuts regardless of the “dot plot” and regardless of the day’s encouraging Consumer Price Index report. The transcript of his post-FOMC news conference follows: Inflation has eased substantially from a peak of 7% to 2.7% […]