PMI Tag

European Manufacturing PMIs Mostly Positive

02 Dec, by Knowledge Leaders Team in Uncategorized

With the notable exceptions of Spain and France, survey data released for Europe’s manufacturing sector were largely positive– a continuation of a trend that began earlier this year: This would seem to indicate an increased likelihood of stronger industrial production data in the coming weeks:...

Disconnect Between JOLTS and Payroll Data Widens

22 Nov, by Knowledge Leaders Team in Uncategorized

US JOLTS (Job Openings and Labor Turnover Stats) is a useful employment indicator that doesn’t get as much attention as it’s nonfarm payroll cousin. According to Bureau of Labor Statistics, JOLTS data was designed to ”serve as a demand-side indicator of labor shortages”....

European Industrial Production

14 Oct, by Knowledge Leaders Team in Uncategorized

In spite of a better than expected monthly rise in production (in August), industrial activity in the five largest European countries continues to contract on a yearly basis– with the exception of Germany:And the recent tick down in the PMI Manufacturing survey would not suggest...

MSCI Cyclical and Counter-Cyclical Baskets

08 Oct, by Knowledge Leaders Team in Uncategorized

We divide the MSCI World index into cyclical (including materials, industrials, technology and consumer discretionary, financials and energy) and counter-cyclical baskets (including consumer staples, health care, telecom, utilities).  The relative performance of cyclicals vs. counter-cyclicals generally improves when the economic news is improving and contracts...