Tuesday, May 2, 2023

US ISM & PMI tick up

 As usual, the thick green line is the one to watch, on the grounds that an average of two statistically independent data series has a lower sigma than either alone.



Is this the beginning of a new upturn?  Prolly not.  The rise in interest rates has yet to take full effect, and a credit crunch has likely started.   See The Covid Crash Payback and Just how deep will the US recession be?


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