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US manufacturing cycle is picking up

The manufacturing recovery is broadening out beyond energy because tax reform allows full expensing of capital investments.

chartMonth_feb2018_small

1Purchasing Managers Index (PMI) is an indicator that measures economic health. A reading above 50 signals expansion from the current growth rate and a reading below 50 signals contraction from the current growth rate.
2PMI through November 2017, industrial production through October 2017 | Sources: Haver, ISM

Stat of the Month

January Barometer

Statofthemonth_Feb2018

Source: Ned Davis Research, 1/18. Stock performance is measured by the S&P 500 Index, a market capitalization-weighted price index composed of 500 widely held common stocks.

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