Manufacturing watch: what are the surveys saying?

Manufacturing surveys — PMIs, ISM, regional Fed indices — arrive early each month and set the tone for the data that follows. Prices-paid components add an inflation read on top.

Manufacturing watch: what are the surveys saying? — central bank rate path diagram
A central bank's policy rate path across recent meetings

What are you seeing?

  • the manufacturing surveys you follow
  • how the prices-paid signals fit your inflation view
  • the currency implications you draw
Manufacturing watch: what are the surveys saying? — risk-reward diagram
A risk-reward ratio of 1 to 2

Background: PMI explained and the Empire State survey.

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