The weekly macro review for w/c 20 July 2020 - The prelim PMI’s for Jul show that there have been mixed results in the pace of improvement in private sector activity and output. The important point is the context of these PMI results from Apr, May, Jun, and Jul....

The weekly macro review for w/c 13 July 2020 - One of the key themes this week is the potentially stalling/slowing recovery in jobs growth in the US. The high frequency data (initial, continuing, and PUA claims and the Household Pulse survey) is showing some signs of...

The weekly macro review for w/c 6 July 2020 - Last week we reviewed the manufacturing recovery in the US in Jun. This week we look at services/non-manufacturing activity. The easing of lock-down and trading restrictions resulted in some improvement in private sector...

The weekly macro review for w/c 29 June 2020 - Sectors within the US economy have, so far, been affected by the pandemic in different ways. US durable goods manufacturing has been most affected within transport equipment, specifically, motor vehicles and non-defense...

The weekly macro review for w/c 22 June 2020 - Global prelim PMI’s for Jun showed some further improvement since countries started to lift restrictions related to the pandemic. This month, there was a continued ‘slower pace of decline’. This means that the number of...

The weekly macro review for w/c 15 June 2020 - The current trend of initial and continuing claims indicates little progress into reducing unemployment via reopening so far. Granted, its early days in the reopening process, but this is the second week of Jun data for...

The weekly macro review for w/c 8 June 2020 - There were no changes made to US monetary policy settings this week. The FOMC statement and press conference were more downbeat in the current assessment of conditions, but did note some positive developments as the...

The weekly macro review for w/c 1 June 2020 - The first view of May activity, via the PMI’s, showed manufacturing and service sectors beginning the recovery from widespread shut-downs and stay at home orders. The decline in activity eased across the US, Europe, UK,...

The weekly macro review for w/c 25 May 2020 - Consumer sentiment in the US barely improved in May despite most states now starting to lift stay-at-home restrictions. Consumer assessment of current conditions improved, while expectations of future conditions actually...

The weekly macro review for w/c 18 May 2020 - The prelim PMI’s for May suggest that the pace of the falls in output may have started to abate across the US, Eurozone, and UK. The ‘slower pace of decline’ in this case means that more firms are starting to record...