mishtalk.com / Mike “Mish” Shedlock / April 3, 2017
The discrepancy between the ISM’s and Markit’s assessment of the economy widened today.
Both reports agree that cost inflation is rising quickly despite moderation in the price of oil.
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The ISM noted 17 out of the 18 industries reported growth in March.
Here’s the statement that caught my eye: “The past relationship between the PMI® and the overall economy indicates that the average PMI® for January through March (57 percent) corresponds to a 4.3 percent increase in real gross domestic product on an annualized basis.”
On an over-under basis, I will take “the under” as in way under.
Markit Key Findings
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