Consumer Credit

Total consumer spending increased by $16.4 billion (B), in March well above the $15.0 billion consensus expectation. This was 6.1% increase year on year and encouraging news that consumers are confident and increasing their spending.  Revolving credit increased by $1.96 B, +5.35% y/y while installment loans expanded by $14.47 B, +6.4%. The economy continues to [...]

Dodge Momentum Index

The Dodge momentum index three month moving average (3MMA) rolled back up 2.6 points or 1.8% in April. The index has advanced in five of the previous six months. The index predicts non-residential construction activity approximately 12 months out. The 3MMA institutional sub-index fell 1.6% after reaching its all-time high of 138.3 in March. The [...]

The Baltic Dry Index

The BDI for the first three days in May averaged 1,072. Year to date (YTD), the index has averaged 1,014. In the same period last year the BDI average was 427. The BDI is a shipping and trade index created by the London-based Baltic Exchange that measures changes in the cost to transport raw materials and includes [...]

ISM Non-Manufacturing Index

  The Institute for Supply Management’s non-manufacturing composite index for April was up 2.3 points month on month to 57.6, besting analyst’s expectations. On a 3 month moving average basis the index scored 56.8, up 4.1%. Momentum (defined as 3 month minus 12 month), was positive 4.9%. Overall, the details were encouraging as new orders, business [...]

ISM Manufacturing Index

The Institute for Supply Management’s manufacturing index for April fell 2.4 points month on month to 54.8, a weaker than analyst expectations of a score of 56.1. A sharp decline in the sub-index for new orders was the principal cause of the decline in the overall index. The ISM manufacturing index is based on surveys [...]