US PMIs Suggest “Weak GDP Growth” In Q4, Prices Remain “Elevated”
After dismal data from Europe, which followed earlier PMI numbers from Australia which pointed to a less steep decline, and a gauge for Japan which signaled a return to growth, the Composite US PMI was expected to decline modestly in preliminary December data.
Instead it rose modestly, from 50.7 to 51.0 (50.5 exp) thanks to a big improvement in Services (to 51.3 from 50.8) which outweighed further weakness in Manufacturing (down to 48.2 from 49.4)…
Source: Bloomberg
The early PMI data indicate that the US economy picked up a little momentum in December, closing off the year with the fastest growth recorded since July.
Commenting on the data, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said:
“Looser financial conditions have helped boost demand, business activity and employment in the service sector, and have also helped lift future output expectations higher.
However, the increased cost of living and cautious approach to spending by households and businesses means the overall rate of service sector growth remains far short of that witnessed during the travel and leisure revival back in the spring and summer.
“Manufacturing meanwhile remains a drag on the economy, with an increased rate of order book decline prompting factories to reduce production, cut back on headcounts and scale back their input buying.
Despite the December upturn, the survey therefore signals only weak GDP growth in the fourth quarter.
The survey’s selling price gauge, which tends to lead changes in consumer price inflation, remains sticky but at a level which is indicative of CPI running only modestly above 2%.
“Service sector input cost inflation, a key gauge of core inflation, once again remained notably elevated by historical standards, though even here the average rate of increase in the fourth quarter has been the lowest since mid-2020.”
Is that really a picture that paints the need for six rate-cuts next year?
Tyler Durden Fri, 12/15/2023 – 09:54
Source: https://freedombunker.com/2023/12/15/us-pmis-suggest-weak-gdp-growth-in-q4-prices-remain-elevated/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Online: | |
| Visits: | 1,642,855,700 |
| Stories: | 8,258,270 |
Whistler Blowers, Insiders
