U.S. Outlook: A stronger October if you believe the PMIs

Posted By Scott Anderson In Economic Outlook | No Comments

October’s Purchasing Manager Indexes (PMIs) and employment report are two big factors in the economy right now, and I discuss their influences in this week’s U.S. Outlook report.

Below is a brief summary followed by a link to the full report, delivered on Nov. 8, 2013.

Key observations:
  • U.S. economic momentum may have outweighed the October drop in consumer confidence and the government shutdown.
  • October Purchasing Manager Indexes suggest a global manufacturing rebound from U.S. to China and Europe.
  • If October payroll strength continues in November and December, the Fed will likely begin tapering of monthly asset purchases in January.
  • Fed tapering could slow U.S. housing and auto sales and create financial instability in some emerging market economies as capital outflows resume.

jobs_numbers_110813 [1]

To read my remarks in full, check out this week’s US Outlook Report [2]. (Chart from Bureau of Labor Statistics)

Article printed from Bank of the West: https://changematters.bankofthewest.com

URL to article: https://changematters.bankofthewest.com/2013/11/08/a-stronger-october-if-you-believe-the-pmis/

URLs in this post:

[1] Image: http://blog.bankofthewest.com/wp-content/uploads/2013/11/jobs_numbers_110813.jpg

[2] this week’s US Outlook Report: https://cdn.shoutlet.com/file/10476/963286.pdf

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