ISM Manufacturing Index Update & Breakdown
|
|
- Maud White
- 6 years ago
- Views:
Transcription
1 ISM Manufacturing Index Update & Breakdown February 2018 Monthly Update Based On The Leading ISM Manufacturing Index
2 What Is This Report About? (1/2) This presentation breaks down the latest ISM manufacturing report All indicators are leading which means that you are about to find out what we can expect to happen in the future. They predict coincident indicators like industrial production, new orders and lagging indicators like GDP growth.
3 What Is This Report About? (2/2) I made an overview of all interesting segments to give you a breakdown of the US economy The following topics will be discussed: Composite index New orders Prices Employment All 18 manufacturing industries (+ insider comments) Note that the indicators presented will have a meaningful impact on the segment they are covering. Higher composite outlook -> stronger GDP growth Higher employment > tailwind for employment growth Higher prices -> higher CPI inflation Higher industry score > more support for companies/stocks within a certain industry
4 Composite Index In my most recent article about regional manufacturing surveys, I wrote that an ISM increase is extremely likely. Experts predicted a decline. What happened is that the ISM index hit 60.8 in February. This is the highest level since 2004! The most recent growth acceleration trend is much stronger than 2014 and does not seem to peak. This means that we can expect even higher industrial production numbers and new orders going forward.
5 New Orders New orders dropped from 65.4 in January to 64.2 in February. This does not mean that we are seeing a peak, it just means that momentum to the upside is dying. And I am not surprised given the high level of the ISM index. Most recession years like 2010 and 2011 saw the same.
6 Prices Last month, I discussed the inflationary pressures from a weaker dollar and rising commodities. At this point we are seeing that the ISM price index has reached This is another increase in an already hot inflation environment. On the next page, I uploaded my regional manufacturing prices indicator to give you an even better view of the situation. The next slide shows a chart I showed in my regional manufacturing survey presentation. I think it adds value given that it has predicted the current ISM prices increase
7 Prices Received Prices received have crossed 20 in February indicating consumer prices growth to hit more than 3.5%. Regional prices also indicated the rising ISM prices index you just saw and put even more pressure on US government bonds and yield trades like consumer staples in general.
8 Employment Employment soared 5.5 points to 59.7 in February. This is another try to break 2017 highs and a signal of further labor market tightening. You will also find evidence of this in the comment and overview section at the end of this presentation. Companies are seeing both strong input inflation, pressure from rising wages and massive labor shortage. All of this adds to the previous slides that discussed rising prices.
9 ISM Industry Charts The next few slides give you an overview of sentiment in all 18 manufacturing industries This sentiment is based on the 12 month totals of every month s reading I always try to look for uptrends or indicators that remain at elevated levels for an extended period. Simply because these indicators move between -12 and +12. Tip: if you want to have a total breakdown of all sub-industries per industry, you will find interesting information on the BLS website. E.g. (Machinery)
10 ISM Industry Charts
11 ISM Industry Charts
12 ISM Industry Charts
13 ISM Industry Charts
14 ISM Industry Charts
15 ISM Breakdown & Comments
16 Takeaway The US economy is back after dipping in January. Growth is at a 14-year high after a massive acceleration trend that started in Q1/2016 New orders are signaling a lack of momentum to the upside on the short term Prices are further accelerating and will soon hit official CPI/PPI numbers. So don t be surprised when financial journalist suddenly talk about rising prices Yield trade are likely to keep underperforming given the rising inflationary risks Cyclical industries are showing strong sentiment while comments are overall very bullish The labor market is further tightening Wages should see further growth in February and on the mid-term in general
17 Want To Know More About Economic Indicators? Article: Establish A Solid Macro View Using The Top-Down Method
Euro-indicators Working Group
Euro-indicators Working Group Luxembourg, 9 th & 10 th June 2011 Item 9.3 of the Agenda Towards an early warning system for the Euro area By Gian Luigi Mazzi Doc 308/11 Introduction Clear picture of economic
More informationChapter 3 economic growth and unemployment theoretical. Chapter 3 economic growth and unemployment theoretical.zip
Chapter 3 economic growth and unemployment theoretical Chapter 3 economic growth and unemployment theoretical.zip band of 6 per Chapter 2 Overview of Inflation and Economic Growth in Namibia The Theory
More informationESRI Research Note Nowcasting and the Need for Timely Estimates of Movements in Irish Output
ESRI Research Note Nowcasting and the Need for Timely Estimates of Movements in Irish Output David Byrne, Kieran McQuinn and Ciara Morley Research Notes are short papers on focused research issues. Nowcasting
More informationGOLD: It s About Time (and Other Things) December 4, 2018
GOLD: It s About Time (and Other Things) December 4, 2018 Gold may not have made our list last week of markets displaying strong or weak long term momentum but it is definitely starting to show other reasons
More informationNOWCASTING REPORT. Updated: January 4, 2019
NOWCASTING REPORT Updated: January 4, 2019 The New York Fed Staff Nowcast stands at 2.5% for 2018:Q4 and 2.1% for 2019:Q1. News from this week s data releases left the nowcast for both quarters broadly
More informationIntroduction to Macroeconomics
Introduction to Macroeconomics Martin Ellison Nuffi eld College Michaelmas Term 2018 Martin Ellison (Nuffi eld) Introduction Michaelmas Term 2018 1 / 39 Macroeconomics is Dynamic Decisions are taken over
More informationEarly action simulations
FINAL REPORT Early action simulations Results from G-Cubed Prepared for New Zealand Ministry for the Environment Warwick McKibbin (ANU and Brookings Institution) David Pearce (Centre for International
More informationNOWCASTING REPORT. Updated: February 22, 2019
NOWCASTING REPORT Updated: February 22, 2019 The New York Fed Staff Nowcast stands at 2.3% for 2018:Q4 and 1.2% for 2019:Q1. News from this week s data releases increased the nowcast for both 2018:Q4 and
More informationWarwick Business School Forecasting System. Summary. Ana Galvao, Anthony Garratt and James Mitchell November, 2014
Warwick Business School Forecasting System Summary Ana Galvao, Anthony Garratt and James Mitchell November, 21 The main objective of the Warwick Business School Forecasting System is to provide competitive
More informationSquares, Triangles and Circles
Squares, Triangles and Circles Pythagorean mathematics can play a role in science and nature. I first illustrated this in my 2014 book The Lost Science when I discussed the Golden Mean. In this edition
More informationBESPOKEWeather Services Monday Afternoon Update: SLIGHTLY BULLISH
Monday Afternoon Update: SLIGHTLY BULLISH Report Summary: The September natural gas contract declined a bit less than a percent today, recovering through the afternoon after heavy selling this morning.
More informationNOWCASTING REPORT. Updated: July 20, 2018
NOWCASTING REPORT Updated: July 20, 2018 The New York Fed Staff Nowcast stands at 2.7% for 2018:Q2 and 2.4% for 2018:Q3. News from this week s data releases decreased the nowcast for 2018:Q2 by 0.1 percentage
More informationThe Neo Fisher Effect and Exiting a Liquidity Trap
The Neo Fisher Effect and Exiting a Liquidity Trap Stephanie Schmitt-Grohé and Martín Uribe Columbia University European Central Bank Conference on Monetary Policy Frankfurt am Main, October 29-3, 218
More informationBESPOKEWeather Services Weekly Seasonal Update
.2.1 BESPOKEWeather Services Weekly Seasonal Update Click to View Section OVERALL SENTIMENT MONTHLY GWDD TRENDS SEASONAL FORECASTING TRENDS SPREAD ANALYSIS SEASONAL STORAGE ANALYSIS SEASONAL TRADE IDEAS
More informationNew NC in the Global Economy (NCGE) Features
New NC in the Global Economy (NCGE) Features Forum on North Carolina in the Global Economy April 21, 2014 Stacey Frederick Center on Globalization, Governance & Competitiveness (CGGC) NC in the Global
More informationerror = Σβ τ (x(t-τ) - p(t-τ) ) 2 τ=0 to (1) The Fading Memory 4 th Order Polynomial Copyright 2000 Dennis Meyers
The Fading Memory 4 th Order Polynomial Copyright 2000 Dennis Meyers The Fading Memory Polynomial Fit. In a previous article the least Squares technique was used to fit a 4 th order polynomial through
More informationNOWCASTING REPORT. Updated: November 30, 2018
NOWCASTING REPORT Updated: November 30, 2018 The New York Fed Staff Nowcast for 2018:Q4 stands at 2.5%. News from this week s data releases left the nowcast for 2018:Q4 broadly unchanged. A negative surprise
More informationNOWCASTING REPORT. Updated: September 7, 2018
NOWCASTING REPORT Updated: September 7, 2018 The New York Fed Staff Nowcast stands at 2.2% for 2018:Q3 and 2.8% for 2018:Q4. News from this week s data releases increased the nowcast for 2018:Q3 by 0.2
More informationComment on: Automated Short-Run Economic Forecast (ASEF) By Nicolas Stoffels. Bank of Canada Workshop October 25-26, 2007
Background material Comment on: Automated Short-Run Economic Forecast (ASEF) By Nicolas Stoffels Bank of Canada Workshop October 25-26, 2007 André Binette (Bank of Canada) 1 Summary of ASEF 1. Automated
More informationEconomics 390 Economic Forecasting
Economics 390 Economic Forecasting Prerequisite: Econ 410 or equivalent Course information is on website Office Hours Tuesdays & Thursdays 2:30 3:30 or by appointment Textbooks Forecasting for Economics
More informationNOWCASTING REPORT. Updated: August 17, 2018
NOWCASTING REPORT Updated: August 17, 2018 The New York Fed Staff Nowcast for 2018:Q3 stands at 2.4%. News from this week s data releases decreased the nowcast for 2018:Q3 by 0.2 percentage point. Negative
More informationLecture 2. Business Cycle Measurement. Randall Romero Aguilar, PhD II Semestre 2017 Last updated: August 18, 2017
Lecture 2 Business Cycle Measurement Randall Romero Aguilar, PhD II Semestre 2017 Last updated: August 18, 2017 Universidad de Costa Rica EC3201 - Teoría Macroeconómica 2 Table of contents 1. Introduction
More informationPubPol 201. Module 3: International Trade Policy. Class 4 Outline. Class 4 Outline. Class 4 China Shock
PubPol 201 Module 3: International Trade Policy Class 4 China s growth The The ADH analysis Other sources Class 4 Outline Lecture 4: China 2 China s growth The The ADH analysis Other sources Class 4 Outline
More informationNOWCASTING REPORT. Updated: September 14, 2018
NOWCASTING REPORT Updated: September 14, 2018 The New York Fed Staff Nowcast stands at 2.2% for 2018:Q3 and 2.8% for 2018:Q4. This week s data releases left the nowcast for both quarters broadly unchanged.
More informationUpdate April 11, 2019
Silver and Silver Mining Update This is an Update on Silver and Silver Mining, outlining the current important juncture, so you will get an idea of what Intelligent Investing s new Metals, Miners, and
More informationNASCUS Summit August dwightjohnston.com
NASCUS Summit August 2017 } Accomplishments to date that impact the economy positively or negatively 0 } Stock market surprisingly patient and could remain so } Bond traders still betting against Trump
More informationREGIONAL SPILLOVER EFFECTS OF THE TOHOKU EARTHQUAKE (MARCH 2016)
REGIONAL SPILLOVER EFFECTS OF THE TOHOKU EARTHQUAKE (MARCH 2016) Robert Dekle, Eunpyo Hong, and Wei Xie Department of Economics University of Southern California Work to understand how the 2011 earthquake
More informationAssessing recent external forecasts
Assessing recent external forecasts Felipe Labbé and Hamish Pepper This article compares the performance between external forecasts and Reserve Bank of New Zealand published projections for real GDP growth,
More informationTRANSMISSION BUSINESS LOAD FORECAST AND METHODOLOGY
Filed: September, 00 EB-00-00 Tab Schedule Page of 0 TRANSMISSION BUSINESS LOAD FORECAST AND METHODOLOGY.0 INTRODUCTION 0 This exhibit discusses Hydro One Networks transmission system load forecast and
More informationEvaluating USDA Forecasts of Farm Assets: Ted Covey & Ken Erickson
Evaluating USDA Forecasts of Farm Assets: 1986-2002 Ted Covey & Ken Erickson Agricultural Finance Markets in Transition Proceedings of The Annual Meeting of NCT-194 Hosted by the Center for the Study of
More informationNOWCASTING REPORT. Updated: May 5, 2017
NOWCASTING REPORT Updated: May 5, 217 The FRBNY Staff Nowcast stands at 1.8% for 217:Q2. News from this week s data releases reduced the nowcast for Q2 by percentage point. Negative surprises from the
More informationEmpirical Project, part 1, ECO 672
Empirical Project, part 1, ECO 672 Due Date: see schedule in syllabus Instruction: The empirical project has two parts. This is part 1, which is worth 15 points. You need to work independently on this
More informationVenus Declination Minimum and the Mercury Retrograde Lows
Venus Declination Minimum and the Mercury Retrograde Lows Venus is making its declination minimum this week and I am optimistic that this will lead to several more positive trends taking shape in the coming
More informationUPPSALA UNIVERSITY - DEPARTMENT OF STATISTICS MIDAS. Forecasting quarterly GDP using higherfrequency
UPPSALA UNIVERSITY - DEPARTMENT OF STATISTICS MIDAS Forecasting quarterly GDP using higherfrequency data Authors: Hanna Lindgren and Victor Nilsson Supervisor: Lars Forsberg January 12, 2015 We forecast
More informationNOWCASTING REPORT. Updated: September 23, 2016
NOWCASTING REPORT Updated: September 23, 216 The FRBNY Staff Nowcast stands at 2.3% and 1.2% for 216:Q3 and 216:Q4, respectively. Negative news since the report was last published two weeks ago pushed
More informationNOWCASTING REPORT. Updated: May 20, 2016
NOWCASTING REPORT Updated: May 20, 2016 The FRBNY Staff Nowcast for GDP growth in 2016:Q2 is 1.7%, half a percentage point higher than last week. Positive news came from manufacturing and housing data
More informationAUTO SALES FORECASTING FOR PRODUCTION PLANNING AT FORD
FCAS AUTO SALES FORECASTING FOR PRODUCTION PLANNING AT FORD Group - A10 Group Members: PGID Name of the Member 1. 61710956 Abhishek Gore 2. 61710521 Ajay Ballapale 3. 61710106 Bhushan Goyal 4. 61710397
More informationApplications of Systems of Linear Inequalities
Applications of Systems of Linear Inequalities Finite Math 26 April 2017 Finite Math Applications of Systems of Linear Inequalities 26 April 2017 1 / 17 Quiz What does it mean for a feasible region to
More informationLabor Market Polarization and a Changing Recovery in the Chicago Metropolitan Area
Labor Market Polarization and a Changing Recovery in the Chicago Metropolitan Area Executive Summary High-Wage Middle-Wage Low-Wage Exhibit 1: Change in Total Jobs by Wage Tier (2006-2015) -3.0% 0.0% 2.5%
More informationAllianz Thailand Equity
Allianz Thailand Equity In the six month period ending 31 March 2016 ( the period ), market conditions were highly volatile. The SET index declined sharply from mid-october 2015 to early January 2016,
More informationInflation Report April June 2012
August, 212 Outline 1. External Conditions 2. Economic Activity in Mexico 3. Monetary Policy and Inflation Determinants. Forecasts and Balance of Risks External Conditions Global economic growth slowed
More informationToulouse School of Economics, Macroeconomics II Franck Portier. Homework 1. Problem I An AD-AS Model
Toulouse School of Economics, 2009-2010 Macroeconomics II Franck Portier Homework 1 Problem I An AD-AS Model Let us consider an economy with three agents (a firm, a household and a government) and four
More informationTrade with differences in technologies
4D INTERNATIONAL JOURNAL OF IT AND COMMERCE ISSN-2319-104X @4dcrossconnect.com.Inc2013 www.4dinternationaljournal.com Volume3,Issue-2-2013 Trade with differences in technologies Abstract Ramarcha Kumar
More informationBESPOKEWeather Services Seasonal Trader Report
.1 -.1 -.2 -.3 -.4 March 2, 218 Seasonal Trader Report Click to View Section OVERALL SENTIMENT MONTHLY GWDD TRENDS SEASONAL FORECASTING TRENDS SPREAD ANALYSIS SEASONAL STORAGE ANALYSIS SEASONAL TRADE IDEAS
More informationImportant Developments in International Coke Markets
Important Developments in International Coke Markets Andrew Jones Resource-Net South Africa China Coke Market Congress Xuzhou, Jiangsu September 2018 Introduction to Presentation Resource-Net produces
More informationNOWCASTING REPORT. Updated: October 21, 2016
NOWCASTING REPORT Updated: October 21, 216 The FRBNY Staff Nowcast stands at 2.2% for 216:Q3 and 1.4% for 216:Q4. Overall this week s news had a negative effect on the nowcast. The most notable developments
More informationIntroduction to Forecasting
Introduction to Forecasting Introduction to Forecasting Predicting the future Not an exact science but instead consists of a set of statistical tools and techniques that are supported by human judgment
More informationlife. Each economic expansion has ultimately brought greater inflation, War II period, spending increases have persistently exceeded output
INFLATION AUSE, URES AND PLAEBOS Beryl M. Sprinkel INTRODUTION Inflation is a rise in the average price level, inevitably brought on by too much money chasing too few goods. Since most of us prefer stable
More informationLODGING FORECAST ACCURACY
tourismeconomics.com LODGING FORECAST ACCURACY 2016 ASSESSMENT JUNE 2017 We recently revisited our previous forecasts for US lodging industry performance to assess accuracy. This evaluation shows that
More informationAllianz Indonesia Equity
Allianz Indonesia Equity In the six month period ending 31 March 2016 ( the period ), Indonesia was the strongest performing market in the Asia region. The recovery in the equity market ran parallel to
More informationThe Blue Chip Survey: Moving Beyond the Consensus
The Useful Role of Forecast Surveys Sponsored by NABE ASSA Annual Meeting, January 7, 2005 The Blue Chip Survey: Moving Beyond the Consensus Kevin L. Kliesen, Economist Work in Progress Not to be quoted
More informationTopic 4 Forecasting Exchange Rate
Topic 4 Forecasting Exchange Rate Why Firms Forecast Exchange Rates MNCs need exchange rate forecasts for their: hedging decisions, short-term financing decisions, short-term investment decisions, capital
More informationForecasting the Canadian Dollar Exchange Rate Wissam Saleh & Pablo Navarro
Forecasting the Canadian Dollar Exchange Rate Wissam Saleh & Pablo Navarro Research Question: What variables effect the Canadian/US exchange rate? Do energy prices have an effect on the Canadian/US exchange
More information2006 IRP Technical Workshop Load Forecasting Tuesday, January 24, :00 am 3:30 pm (Pacific) Meeting Summary
2006 IRP Technical Workshop Load Forecasting Tuesday, January 24, 2006 9:00 am 3:30 pm (Pacific) Meeting Summary Idaho Oregon Utah Teri Carlock (IPUC) Ming Peng (OPUC), Bill Wordley (OPUC) Abdinasir Abdulle
More informationDesign of a Weather- Normalization Forecasting Model
Design of a Weather- Normalization Forecasting Model Progress Report Abram Gross Yafeng Peng Jedidiah Shirey 3/4/2014 TABLE OF CONTENTS 1.0 Introduction... 3 2.0 Problem Statement... 3 3.0 Scope... 3 4.0
More informationSource: US. Bureau of Economic Analysis Shaded areas indicate US recessions research.stlouisfed.org
Business Cycles 0 Real Gross Domestic Product 18,000 16,000 (Billions of Chained 2009 Dollars) 14,000 12,000 10,000 8,000 6,000 4,000 2,000 1940 1960 1980 2000 Source: US. Bureau of Economic Analysis Shaded
More informationEcon 424 Time Series Concepts
Econ 424 Time Series Concepts Eric Zivot January 20 2015 Time Series Processes Stochastic (Random) Process { 1 2 +1 } = { } = sequence of random variables indexed by time Observed time series of length
More informationLearning About Consumer Uncertainty from Qualitative Surveys: As Uncertain As Ever
Learning About Consumer Uncertainty from Qualitative Surveys: As Uncertain As Ever Santiago Pinto, Pierre-Daniel Sarte, Robert Sharp Federal Reserve Bank of Richmond October 2016 S. Pinto P.-D. Sarte R.
More informationNOWCASTING REPORT. Updated: April 15, 2016
NOWCASTING REPORT Updated: April 15, 2016 GDP growth prospects remain moderate for the rst half of the year: the nowcasts stand at 0.8% for 2016:Q1 and 1.2% for 2016:Q2. News from this week's data releases
More informationMacroeconomics Theory II
Macroeconomics Theory II Francesco Franco Nova SBE February 2012 Francesco Franco Macroeconomics Theory II 1/31 Housekeeping Website TA: none No "Mas-Collel" in macro One midterm, one final, problem sets
More informationSluggish Economy Puts Pinch on Manufacturing Technology Orders
Updated Release: June 13, 2016 Contact: Penny Brown, AMT, 703-827-5275 pbrown@amtonline.org Sluggish Economy Puts Pinch on Manufacturing Technology Orders Manufacturing technology orders for were down
More informationCITY OF MESQUITE Quarterly Investment Report Overview Quarter Ending September 30, 2018
CITY OF MESQUITE Quarterly Investment Report Overview Quarter Ending September 30, 2018 Investment objectives are safety, liquidity, yield and public trust. Portfolio objective is to meet or exceed the
More informationGraduate Macro Theory II: Notes on Quantitative Analysis in DSGE Models
Graduate Macro Theory II: Notes on Quantitative Analysis in DSGE Models Eric Sims University of Notre Dame Spring 2011 This note describes very briefly how to conduct quantitative analysis on a linearized
More informationEuro-indicators Working Group
Euro-indicators Working Group Luxembourg, 9 th & 10 th June 2011 Item 9.4 of the Agenda New developments in EuroMIND estimates Rosa Ruggeri Cannata Doc 309/11 What is EuroMIND? EuroMIND is a Monthly INDicator
More informationQuarterly Bulletin 2018 Q3. Topical article Gauging the globe: the Bank s approach to nowcasting world GDP. Bank of England 2018 ISSN
Quarterly Bulletin 2018 Q3 Topical article Gauging the globe: the Bank s approach to nowcasting world GDP Bank of England 2018 ISSN 2399-4568 Topical articles The Bank s approach to nowcasting world GDP
More informationThe TransPacific agreement A good thing for VietNam?
The TransPacific agreement A good thing for VietNam? Jean Louis Brillet, France For presentation at the LINK 2014 Conference New York, 22nd 24th October, 2014 Advertisement!!! The model uses EViews The
More informationForecasting with Expert Opinions
CS 229 Machine Learning Forecasting with Expert Opinions Khalid El-Awady Background In 2003 the Wall Street Journal (WSJ) introduced its Monthly Economic Forecasting Survey. Each month the WSJ polls between
More informationMortenson Pissarides Model
Mortenson Pissarides Model Prof. Lutz Hendricks Econ720 November 22, 2017 1 / 47 Mortenson / Pissarides Model Search models are popular in many contexts: labor markets, monetary theory, etc. They are distinguished
More informationSunrise, Sunset and Mathematical Functions
Teaching of Functions 13 Sunrise, Sunset and Mathematical Functions Activity #1: The table you are given reports the sunrise and sunset times for Manila, Philippines for each day of the year. Each day
More informationBESPOKEWeather Services Monday Morning Update: NEUTRAL
Weather guidance over the weekend trended right in line with our expectations on Friday, as we saw warm forecasts continue through the short-term but significant cooling in both the medium and long-term.
More informationAn assessment of recent Reserve Bank forecasts
An assessment of recent forecasts Jane Turner, Aidan Yao and Tim Hampton of New Zealand Corresponding author: aidan.yao@rbnz.govt.nz Abstract We compare the s forecasts of key variables from the past four
More informationOSS NEWSLETTER & FORECAST Sunday, July 10, OSS NEWSLETTER & FORECAST.
OSS NEWSLETTER & FORECAST Sunday, July 10, 2011 1 OSS NEWSLETTER & FORECAST http://www.oss.cc Table of Contents Market Comments... 1 Financial Events for the Coming Week... 4 Last Week s OSS INDICATORS
More informationTIGER: Tracking Indexes for the Global Economic Recovery By Eswar Prasad and Karim Foda
TIGER: Tracking Indexes for the Global Economic Recovery By Eswar Prasad and Karim Foda Technical Appendix Methodology In our analysis, we employ a statistical procedure called Principal Compon Analysis
More information4- Current Method of Explaining Business Cycles: DSGE Models. Basic Economic Models
4- Current Method of Explaining Business Cycles: DSGE Models Basic Economic Models In Economics, we use theoretical models to explain the economic processes in the real world. These models de ne a relation
More informationError Statistics for the Survey of Professional Forecasters for Treasury Bond Rate (10 Year)
Error Statistics for the Survey of Professional Forecasters for Treasury Bond Rate (10 Year) 1 Release Date: 03/02/2018 Tom Stark Research Officer and Assistant Director Real-Time Data Research Center
More informationThank you for your interest in the Support Resistance Strength Analyzer!
This user manual refer to FXCM s Trading Station version of the indicator Support Resistance Strength Analyzer Thank you for your interest in the Support Resistance Strength Analyzer! This unique indicator
More informationSwiss Franc, Gold, and Gold Mining Update
Swiss Franc, Gold, and Gold Mining Update This is an Update on the Swiss Franc, Gold, and Gold Mining, outlining the current important juncture, so you will get an idea of what Intelligent Investing s
More informationMathematics Review Revised: January 9, 2008
Global Economy Chris Edmond Mathematics Review Revised: January 9, 2008 Mathematics is a precise and efficient language for expressing quantitative ideas, including many that come up in business. What
More informationIn July, US wholesalers inventories were flat month over month, and their sales declined. The inventory-to-sales ratio was 1.34.
September 16, 2016 i l US In August, the ISM Manufacturing Purchasing Managers Index (PMI) slid to 49.4, trailing the consensus estimate of 52.0 and falling into contraction territory. The ISM Non-Manufacturing
More informationMicroeconomic Theory -1- Introduction
Microeconomic Theory -- Introduction. Introduction. Profit maximizing firm with monopoly power 6 3. General results on maximizing with two variables 8 4. Model of a private ownership economy 5. Consumer
More informationLECTURE 3 The Effects of Monetary Changes: Statistical Identification. September 5, 2018
Economics 210c/236a Fall 2018 Christina Romer David Romer LECTURE 3 The Effects of Monetary Changes: Statistical Identification September 5, 2018 I. SOME BACKGROUND ON VARS A Two-Variable VAR Suppose the
More informationForecasting Time Frames Using Gann Angles By Jason Sidney
Forecasting Time Frames Using Gann Angles By Jason Sidney In the previous lesson, we looked at how Gann Angles can be used in conjunction with eighths and third retracements. In that lesson you were shown
More informationTopic 9. Monetary policy. Notes.
14.452. Topic 9. Monetary policy. Notes. Olivier Blanchard May 12, 2007 Nr. 1 Look at three issues: Time consistency. The inflation bias. The trade-off between inflation and activity. Implementation and
More informationClosed economy macro dynamics: AD-AS model and RBC model.
Closed economy macro dynamics: AD-AS model and RBC model. Ragnar Nymoen Department of Economics, UiO 22 September 2009 Lecture notes on closed economy macro dynamics AD-AS model Inflation targeting regime.
More informationMore information at https://www.htfmarketreport.com/reports/
Report Information More information at https://www.htfmarketreport.com/reports/1106066 Global and Chinese Geospatial Imagery Analytics Industry, 2018 Market Research Report Report Code: HTF1106066 Pages:
More informationDAILY MARKET REPORT 24 JANUARY 2018
DAILY MARKET REPORT 24 JANUARY 2018 Unigrain (Pty) Ltd Tel. No. : +27 11 692 4400 Fax. No. : +27 11 412 1183 Economic Indicators Quote at 12h00 previous day Current quote Change % Change Rand/Dollar 12.06
More informationIdentifying the Monetary Policy Shock Christiano et al. (1999)
Identifying the Monetary Policy Shock Christiano et al. (1999) The question we are asking is: What are the consequences of a monetary policy shock a shock which is purely related to monetary conditions
More informationWRF Webcast. Improving the Accuracy of Short-Term Water Demand Forecasts
No part of this presentation may be copied, reproduced, or otherwise utilized without permission. WRF Webcast Improving the Accuracy of Short-Term Water Demand Forecasts August 29, 2017 Presenters Maureen
More informationDiscussion Global Dynamics at the Zero Lower Bound
Discussion Global Dynamics at the Zero Lower Bound Brent Bundick Federal Reserve Bank of Kansas City April 4 The opinions expressed in this discussion are those of the author and do not reflect the views
More informationNo Staff Memo. Evaluating real-time forecasts from Norges Bank s system for averaging models. Anne Sofie Jore, Norges Bank Monetary Policy
No. 12 2012 Staff Memo Evaluating real-time forecasts from Norges Bank s system for averaging models Anne Sofie Jore, Norges Bank Monetary Policy Staff Memos present reports and documentation written by
More informationHOW TO USE THE CONVENTIONAL OIL FORECAST REPORT. Location of Change in this Document
HOW TO USE THE CONVENTIONAL OIL FORECAST REPORT Jurisdiction Release/Revision Date Location of Change in this Document Comment AB January 29, 2016 D. Anomalous Result Display on New Section the Forecast
More informationAs good as the rest? Comparing IMF forecasts with those of others
As good as the rest? Comparing IMF forecasts with those of others Zidong An American University and IMF Prakash Loungani IMF Research Department Adjunct Professor, Vanderbilt University Member, Research
More informationCharting Employment Loss in North Carolina Textiles 1
P. Conway 14 January 2004 Charting Employment Loss in North Carolina Textiles 1 The job losses in North Carolina manufacturing, and the textiles industry in particular, are most often attributed to the
More informationHOG PRICE FORECAST ERRORS IN THE LAST 10 AND 15 YEARS: UNIVERSITY, FUTURES AND SEASONAL INDEX
HOG PRICE FORECAST ERRORS IN THE LAST 10 AND 15 YEARS: UNIVERSITY, FUTURES AND SEASONAL INDEX One of the main goals of livestock price forecasts is to reduce the risk associated with decisions that producers
More informationLecture 6: Competitive Equilibrium in the Growth Model (II)
Lecture 6: Competitive Equilibrium in the Growth Model (II) ECO 503: Macroeconomic Theory I Benjamin Moll Princeton University Fall 204 /6 Plan of Lecture Sequence of markets CE 2 The growth model and
More informationPart A: Answer question A1 (required), plus either question A2 or A3.
Ph.D. Core Exam -- Macroeconomics 5 January 2015 -- 8:00 am to 3:00 pm Part A: Answer question A1 (required), plus either question A2 or A3. A1 (required): Ending Quantitative Easing Now that the U.S.
More informationDiscussion of Robert Hall s Paper The High Sensitivity of Economic Activity to Financial Frictions
Discussion of Robert Hall s Paper The High Sensitivity of Economic Activity to Financial Frictions Matteo Iacoviello Federal Reserve Board March 26, 21 This is a Timely Paper and I am Sympathetic to its
More informationWeekly Market Report 25 July 2018
Weekly Market Report 25 July 2018 USD/ZAR Exchange rate: The Rand is currently quoted at R13.28 per US Dollar, 3 cents stronger in than last week. The Rand weakend initially as expected but managed to
More informationExplaining Inflation During the Great Contraction
Explaining Inflation During the Great Contraction Robert G. Murphy Department of Economics Boston College Chestnut Hill, MA 02467 murphyro@bc.edu January 4, 2013 ODE Advisor Session, American Economic
More informationRelationships between phases of business cycles in two large open economies
Journal of Regional Development Studies2010 131 Relationships between phases of business cycles in two large open economies Ken-ichi ISHIYAMA 1. Introduction We have observed large increases in trade and
More information