Investment Advisory Services Featured Market Data
Manufacturing Still Matters
Growth declined at U.S. manufacturing firms in February. The ISM manufacturing index fell to 54.2 in February, a two-year low and below market expectations of 55.8. Four of the five primary components: orders, employment, production and deliveries, all declined. The weakness was attributed to colder than usual weather and policy uncertainty over trade. While the strength of the manufacturing sector may serve as a good proxy for the health of the economy, it is important to note that the pace of growth has ebbed in line with overall economic activity.
Source: Wall Street Journal, Bloomberg
Investment Advisory Services Recent News
Economic Growth Slows
GDP rose 2.6% in the 4th quarter and exceeded the 2.2% growth expected by economists. The pace of growth remained solid, though fell short of robust growth rates of 3.4% and 4.2% in the 3rd and 2nd quarters, respectively. Growth slowed compared to prior quarters as consumers slowed spending and the housing sector detracted from growth for the 4th consecutive quarter. Business investment and exports contributed positively, while imports detracted from growth. Longer term our outlook is for somewhat slower GDP growth through 2019 as trade uncertainty evolves along with the impact of 2018 tax cuts wanes.
Source: Wall Street Journal, Bloomberg
