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22nd May 2024 14:58USDaily Monitor

  • Ignore the rise in the composite PMI in May it has been a poor guide to GDP growth since the pandemic... 
  • ...The failure of the employment index to reverse April's plunge adds to signs of slowing payroll growth.
  • We look for a small rise in core capital goods shipments in April, due to a calendar quirk, not an improving trend.

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Keywords for: 24 May 2024 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence