pros and cons of hard economic data and survey evidence

Comment about the ISM’s U.S. PMI for Non-Manufacturing

September 5, 2019

U.S. share prices were thrust sharply higher today, initially by news that Chinese officials are coming to Washington to resume trade talks, but again later as investors reacted to released U.S. data. U.S. labor productivity and unit labor costs increased robustly last quarter by 2.3% and 2.6% at annualized quarter-on-quarter comparisons. Factory orders advanced 1.4% […] More