The headline Philadelphia Fed manufacturing survey for April delivered a positive surprise on Thursday, increasing from 3.2 to a twelve-month high of 15.5 and beating expectations it would soften to 2.0. Measures of demand…
In this note, we preview the Q1-2024 earnings season, give our take on expectations and share what we will be watching.
Optimism about the future continues to boost investor confidence in the Euro Area. The ZEW Expectations series for the Eurozone (+10.4 to 43.9) and Germany (+11.2 to 42.9) surged and are now both at their highest in 26…
EUR/USD collapsed in the wake of last week’s hotter-than-expected US CPI report. Is this pessimism warranted and will the euro’s trading range that has prevailed since 2023 breakdown?
We look beneath headline data to assess the state of the labor market in cyclical goods-producing industries that have previously led overall nonfarm payrolls and in the services segments that have recently been leading the charge.…
German industrial production growth accelerated from an upwardly revised 1.3% m/m to 2.1% m/m in February, registering the fastest pace in 13 months and largely beating expectations of a slowdown. A 7.9% m/m increase in the…
Europe credit flows are stabilizing, hence a major drag on the region’s growth will dissipate. What does this development imply for European equities?
As a small open economy, Sweden’s economic performance is a good barometer of global growth developments. Swedish PMIs for March were overall positive. The Manufacturing PMI rose to the 50 boom-bust line following 19…
The US manufacturing sector appears to be enjoying a revival. As we highlighted yesterday, the ISM manufacturing PMI unexpectedly returned to growth in March and the S&P Global US manufacturing PMI remains in expansion…
The ISM Manufacturing PMI came in at 50.3 in March, better than expectations of 48.4 and breaking above the 50 boom-bust line for the first time since September 2022. Notably the new orders component rebounded to 51.4, marking…