Dodge Momentum Index

The Dodge momentum bounced back in May, up 5.4 points or 4.0% month on month. On a 12 month moving average (12MMA), basis the index scored 136.2, up 1.2%. The Momentum Index is a monthly measure of the initial report for nonresidential building projects in planning, which have been shown to lead construction spending for [...]

Currency Report

The US dollar (USD) has fallen for 5 consecutive weeks against the Broad Index, (a trade weighted basket of currencies). The May 2017 Broad index value was 99.34, down 0.4% from the April’s reading and down 2.1% compared to 3 months ago. On a year over year (y/y) comparison, the dollar was up, 2.2% and [...]

ISM Non-Manufacturing Index

The Institute for Supply Management’s non-manufacturing composite index for May fell a fraction of a point to 56.9, slightly lower than analyst’s expectations. On a 3 month moving average basis the index scored 56.5, up 4.0%. Momentum (defined as 3 month minus 12 month), was positive 3.8%. Overall, the details were encouraging. The ISM nonmanufacturing [...]

Growth of US GDP Q1 2017

The annualized Gross Domestic Product (GDP), growth rate in the second estimate of the first quarter (Q1), of 2017 was 1.15%, revised upward from the dismal 0.7% first estimate. Increases in nonresidential fixed investment and in personal consumption expenditures were larger and the decrease in state and local government spending was smaller than previously estimated. [...]

ISM Manufacturing Index

ISM Manufacturing Index: The Institute for Supply Management’s manufacturing index for May ticked up 0.1 point month on month (m/m), to 54.9, weaker than analyst expectations yet still positive. New orders rose two points m/m as 14 of 18 industries reported growth in new orders. Primary metals and machinery were amongst the cohort reporting growth. The [...]

Beige Book Summary

The overall summary is that; the economy continues to expand across most of the nation at a modest to moderate pace. Tight labor markets are reducing the rate of hiring and causing wages to rise. The housing market is strengthening.  Policy uncertainties are negatively impacting business investment.  The economy is expected to continue grow and [...]