The ISM and Markit Manufacturing PMI blew away estimates this morning with new orders hitting the highest point in 16 years, evidence the Trump economy is roaring back prior to the election in two months. The timing couldn’t be better for one Donald J. Trump and his re-election chances.
Some market analysts are suggesting the strong numbers will ease pressure on Congress to find a solution to the current deadlock for further panedmic stimulus for the American economy.
Financial markets are higher on the news, with durable goods companies gaining strength, such as Boeing, which has been hit with a long string of problems and bad news.
Markit Manufacturing PMI (Aug) printed at 53.1 vs 53.6 consensus estimate.
ISM Manufacturing Employment Index (Aug) printed at 46.4 vs 45.8 estimate.
ISM Manufacturing PMI (Aug) printed at 56 vs 54.5 estimate.
ISM Manufacturing Prices Paid (Aug) printed at 59.5 vs 54 estimate.
ISM Manufacturing New Orders Index (Aug) printed at 67.6 vs 53.5 estimate.
Construction Spending (MoM) (Jul) printed at 0.1% vs 1.0% estimate.