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  • 1 min

Manufacturing ISM down for the 3rd consecutive month

  • 1 July 2019
  • Philippe Waechter
  • Business Cycle
  • ISM
  • USA
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The downward adjustment of the manufacturing sector ISM has continued since the high point of August 2018. The flagship indicator of the US economy must be based on a less volatile and less strong real dynamic. The CFNAI that I take as a reference is calculated as the common trend of 85 indicators of the real economy.
There is still room for adjustment and this will happen in view of the deteriorating international environment and the absence of economic policy measures across the Atlantic that could boost growth very quickly.
This means that the ISM will cross the 50 level in the coming months and will probably fall below it even if only temporarily.

The decline in the ISM is mainly due to lower order flows and lower delivery pressures.

Related Topics
  • Business Cycle
  • ISM
  • USA
On the same topic
  • 3 min

From Today to Tomorrow – November 19 – Gold, the US real rate and German exports

  • 19 November 2020
  • International

Philippe Waechter

The rise in the price of gold was halted by improving prospects for the US economy and society. Last summer price of $ 2000 was probably excessive. But this is…
  • German Exports
  • Gold Price
  • Real US Interest Rate
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  • 3 min

From Yesterday to Today – October 20 – China and the rest of the world

  • 20 October 2020
  • International

Philippe Waechter

The Chinese economy is normalizing. The health alert phase has passed and growth is resuming. It is rather self-centered and is no longer a source of strong impetus for the…
  • China
  • Chinese Growth
  • Growth Normalization
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  • 4 min

Europe must choose its philosophy

  • 25 May 2020
  • International

Philippe Waechter

The European Commission will have to choose between the Franco / German plan and the proposal of “frugal four”. The choice will shape the trajectory of Europe for the years…
  • "Frugal Four" Countries
  • European Commission
  • European Union
  • Franco/German Proposal
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