They confirm the strength of the US economy at a time when the household sector is also experiencing a reversal of the significant energy price hit.
What changed
The just-released US PMI numbers beat consensus expectations across the board, including both manufacturing and services.
They confirm the strength of the US economy at a time when the household sector is also experiencing a reversal of the significant energy price hit.
A better Main Street contrasts with a currently struggling Wall Street, where the question is less about the elimination of market frothiness and more about when the “buy-the-dip” conditioning kicks in.
#economy #markets — via @elerianm