Manufacturing

Goods Economy Still On The Ropes

A growth recession is still rolling through the goods sector. Real consumer spending on goods has been flat at a record high since early 2022. We expect that spending on services, technology, and onshoring will keep the economy growing. There's still no stagflation or recession in our forecast. Today's M-PMI report was weaker-than-expected. That followed Friday's weaker-than-expected personal income