All Posts Tagged: May

U.S. Outlook: Is manufacturing resurgence a reality or a dream?

Scott Anderson
Chief Economist

The minutes of the April FOMC meeting put the markets on notice that another rate hike is coming in June or soon thereafter, but will the U.S. economy cooperate between now and then?

Graph showing manufacturing as percent of GDP over last several years.April economic data has certainly been encouraging.

For more details about what’s going on, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on May 20.

Key observations:
  • Real GDP is on track for a 2.4% increase in the second quarter.
  • Manufacturing PMIs so far for May point to a renewed slowing in manufacturing activity.
  • Employment in manufacturing is now contracting year-over-year.
  • Manufacturing headwinds remain, including sluggish global growth, bloated inventories, and the strong dollar, though we see those headwinds gradually fading as the year progresses.
  • It won’t be until 2017 before we see a measurable improvement in manufacturing activity.

Click here to read my full report.

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Instant Analysis: June employment report

Scott Anderson
Chief Economist
Man and woman in corporate attire waiting for job interviews.

It has been a long time coming, but we finally got a jobs report that blew away even the most optimistic analyst expectations in June.

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