The Baltic Dry Index

The three month moving average (3MMA), of the Baltic Dry Index (BDI), for July was 914 down 10.5%, 3MMA month on month (m/m), but up 41.5%, 3MMA year on year, (y/y). The BDI has corrected since peaking above 1,300 points in the spring rally. Despite this correction, shipbrokers remain positive that the market will improve [...]

ISM Non-Manufacturing Index

The Institute for Supply Management’s non-manufacturing composite index fell back more than analysts expected in July, dropping 3.5 percentage points to 53.9. Most economists expect non-manufacturing to pick-up over the next several months since consumer spending remains robust and construction activity is holding-up well. On a 3 month moving average basis (3MMA), the index scored [...]

ISM Manufacturing Index

The Institute for Supply Management’s manufacturing index for continues to perform well despite a 1.5 point drop to 56.3 in June, which was in-line with analysts’ expectations. The decline stemmed from a 3.1 point drop in new orders to a still very strong 60.4. Fourteen of 18 industries reported growth in new orders to include [...]

Construction Put-in-Place

U.S. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that June total construction expenditures grew by 4.1% year on year (y/y), to $1208.9 billion (B). Private expenditures advanced 7.4% y/y, while, State & Local contracted by 4.5% y/y. Non-residential CPIP increased by 6.0% y/y to $570.6B led by strong performances for Commercial, Office, [...]

US GDP Q2 2017

The annualized Gross Domestic Product (GDP), growth rate in the first estimate of the second quarter (Q2), of 2017 was 2.57% according to the Bureau of Economic Analysis (BEA). This value was not as high as originally forecast but was up nicely from the revised 1.24% posted for the first quarter. Stronger consumer spending was [...]