Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today
Already have an account? log in
Bulletproof Services Drive ‘Robust’ Start To Q4 For US Economy
The US economy kicked off Q4 growing at a 2.5% clip.
That was the implication from the first look at S&P Global's PMIs for October.
The flash print on the services gauge was 55.3, an uptick from September and marginally better than consensus expected. The manufacturing index remained in contraction territory, but at 47.8, the gauge still managed to rise and top estimates.
The accompanying color described "a robust start to the fourth quarter," even as hiring was hindered by election unc
I’m a techno-type. The glass is neither half-full nor half-empty. It is merely improperly specified.
Slightly related, it looks like the recent decline in U Mich consumer confidence number may be partly a data/method issue.
Apparently U Mich changed from phone survey to online survey starting Apr 2024 and the online respondents were, demographically and in self-reported sentiment, substantially different, enough to account for a -9 point change in the current conditions score.
The above is from a blog post, not a major media outlet, but the analysis looks detailed and credible on a quick read.
https://www.briefingbook.info/p/the-effect-of-online-interviews-on