Public
Mixed Indicators Showing Slowing Economic Growth
2 min read
We are seeing some very odd divergencies between the averages of the regional business surveys conducted by five Federal Reserve Banks and the national survey of manufacturing purchasing managers conducted by the Institute for Supply Management. In the past, the regional and national indexes for overall business, new orders, and employment tracked one another very closely.
Now, not so much:
(1) During May, the regional composite index fell to 0.
-
Ed Yardeni
