Hopeful data suggests US is heading for ‘no landing’
US manufacturing ISM gave hope that the US is seeing a recovery as inflation falls. NAB’s Ray Attrill says there will be a lot of focus on the services number this week.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tueday 2nd April 2024
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The US manufacturing ISM this morning was stronger than expected. Phil asks NAB’s Ray Attrill if we are seeing more soft-landing evidence from the US, with the Core PCE deflator read on Friday showing prices are rising just 2.8% year on year, whilst spending is rising, and job claims fell last week? Rau suggests its more of a ‘no landing’ situation, if the data holds out. There was good news from China too over the weekend. It might be a short week, but it’s a busy one. Phil and Ray talk through what to expect.
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