May 3, 2023
The following are diffusion indices, based on business surveys, which means that >50 indicates expansion and <50 indicates contraction, and 50 indicates no change. A larger or small number indicates breadth, not intensity, among survey respondents. ISM Manufacturing Index rebounded +0.8 points in April to 47.1, but remained in its 6th straight month of contraction. […]
May 5, 2023
The US economy added +253,000 jobs in April, beating expectations of a +180,000 gain. However, previous months were revised downwards by -78k in February and -71k in March, for a total of -149k. As a result, average job gains over the past three months were +222k per month, down from an average rate of +399k […]
May 3, 2023
U.S. factory orders rose +0.9% m/m in March (last available), up just 1.4% from a year ago. Keep in mind these numbers are not adjusted for inflation, and the PCE price index was up +4.2% y/y in March, which suggests a real contraction. For Q1 as a whole, order fell -2.1% q/q, up just +2.5% […]
May 13, 2023
The Brent Oil Price (global) ended April at $81.32, up +2.7% that month, but down -25.0% from its price a year ago. The WTI Oil Price (domestic US) ended January at $76.78 per barrel, up +1.5% that month, but down -26.6% from a year ago. The Henry Hub (US) Natural Gas Price spot price ended […]
May 13, 2023
The S&P 500 Index ended April at 4,169.48, up +1.5% that month, and up just +0.9% from a year ago. The Dow Jones Industrial Average (DJIA) ended April at 34,098.16, up +2.5% that month, and up +3.4% from a year ago. The Nasdaq Composite Index ended April at 12,226.58, flat that month, and down -0.9% […]