The IBD/TIPP Economic Optimism Index fell to 41.2 in May of 2022 from 45.5 in April only barely above March’s eight-year low of 41. Rising interest rates, Russia’s war in Ukraine, and China’s COVID-related lockdowns all impacted the mood. The six-month outlook for the US economy tumbled 6.5 points to 33.2, the lowest level since August 2011. IBD/TIPP Economic Optimism Index May of 2022 IBD/TIPP Economic Optimism Index in the US fell to 41.2 in May of 2022 from 45.5 … Continue reading “American Household Financial Stress Highest Level Since Outset of the Pandemic in April 2020”
A private gauge of China’s Services activity in August fell to a post-Covid-19 low as heavy floods, a resurgence in Covid cases and power shortages in some cities weighed on China Caixin/Markit PMI Services for August falling to 46.7 (expected 52.6, prior 54.9)
The key ISM July US services index soared to an all time high 64.1 vs 60.1% in June, the fourteenth straight month of growth for the services sector which accounts for over 80% of the US GDP. Services industries pent-up demand with many supply chain disruptions bringing inflation risk and challenges with labor and product.
The IBD/TIPP Economic Optimism Index rose to a new high since February 2020 before the Covid-19 shutdown in April. The index rose 1.8% to 56.4 in April of 2021. The six-month outlook for the US economy jumped 5.1 percent to 55.9.
The key ISM March US services index soared to an all time high 63.7 vs 59.0 marks the tenth straight month of growth for the services sector which accounts for over 80% of the US GDP. All 18 services industries reported growth with many getting supply chain disruptions bringing inflation risk.
The ISM non-manufacturing index slid to 52.6 in September from 56.4 in August and lower than the 55.0 expected to a three year low. The cost of tariffs has been impacting the supply side and consumer uncertainty.