U.S. Infrastructure Spending

Referencing data from the U.S. Census Bureau’s construction put-in-place (CPIP) shows that total infrastructure spending, (not seasonally adjusted in constant 2009 dollars) decreased by 5.3% three months year on year, (y/y) to $50.3 billion, (B). On a twelve month y/y comparison, spending was down 4.5% to $167.0B resulting in negative 0.8% momentum. Table 1 presents [...]

ISM Non-Manufacturing Index

The Institute for Supply Management’s non-manufacturing composite index advanced 0.3 points in October to 60.1 to its highest level since October 2003. The result once again exceeded analysts’ expectations. The results were generally positive, as the sub-indexes of; business activity, employment, exports and inventories all improved. New orders dipped a fraction, imports were flat and [...]

Currency Report

On a three moving average, (3MMA) y/y comparison, the dollar was down 2.6% against the Broad Index. The dollar Broad Index was 98.68 on November 1st, it has traded in a range of 95.00, (9/1/2017) to 103.09, (1/12017) over the past 12 months. Figure 1 shows the track of the Broad Index from 2000 to [...]

ISM Manufacturing Index

The Purchasers Manger’s Index posted a score of 58.8, falling 2.1 points month on month, (m/m), lower than analysts’ expectations. Despite the decline, the index remains at elevated levels leaving the expectation of further gains in manufacturing over the next several months. The new orders index fell back 1.2 points to 63.4, its fifth month [...]

The Baltic Dry Index

The three month moving average (3MMA), of the Baltic Dry Index (BDI), for September moved-up 16.9% to 1,331 month on month (m/m). The index has moved higher in each of the last four months. On a year on year basis, (y/y), the BDI was 68.4% higher. The BDI has averaged 1,073 over the past 12 [...]