Industrial manufacturing is available in beneath consensus (-0.1% vs +0.2%). Right here’s an image of the important thing indicators adopted by the NBER BCDC.
Determine 1: Nonfarm Payroll employment incorporating benchmark revision (daring darkish blue), civilian employment (orange), industrial manufacturing (purple), private earnings excluding present transfers in Ch.2017$ (daring inexperienced), manufacturing and commerce gross sales in Ch.2017$ (black), consumption in Ch.2017$ (mild blue), and month-to-month GDP in Ch.2017$ (pink), GDP, third launch (blue bars), GDPNow for 2024Q1 as of two/15 (lilac field), all log normalized to 2021M11=0. Supply: BLS through FRED, BLS preliminary benchmark, Federal Reserve, 2023Q4 advance launch,, S&P International Market Insights (nee Macroeconomic Advisers, IHS Markit) (2/1/2024 launch), and writer’s calculations.
