The Institute for Supply Management’s manufacturing index has strengthened over the last two months, coming in at a 55.0 reading in May. New orders have been especially strong, at 59.6 in May and at 58.5 in April. However, these numbers did not translate into similar strength for national data on industrial production and new factory orders for durables in May. Still, if the ISM numbers continue to hold up, then the official government statistics should follow. Most recently last week, the Chicago purchasers index remained strong in June with a 60.2 reading - only marginally below the 61.7 level for May.
Table, that classifies as “Good and Improving.”
|Bad and Deteriorating||Bad but Improving||Good but Deteriorating||Good and Improving|
|Existing Homes (May)||Chicago Fed NAI (May)||Consumer Confidence (June)||Real Disposable Income|
|Store sales (June 23)||Durable Goods (May)||Personal Spending||ISM Manufacturing (June)|
|New Home Sales (May)||Construction Spending|
|ATA Truck Tonnage (May)|
|GDP (Q1 Final)|