September Macro: Are Job Openings, and ISM Manufacturing Prices Affecting your portfolio?
💡Summary: • U.S. PMI came in at 49.8, above the estimate of 48.9. • ISM manufacturing price index was lower, down to 43.8 from a Forecast 48.
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💡Summary:• U.S. PMI came in at 49.8, above the estimate of 48.9.• ISM manufacturing price index was lower, down to 43.8 from a Forecast 48.6.• Job Openings posted at 9.6 million compared to 8.8M expected.Based on the data, purchasers sought after slightly more goods in September, but reported lower prices seasonally adjusted on those purchases. Meanwhile, Job openings surprised economists with nearly a million more open positions in the U.S. laborforce.This week, more macro indicators will come out, the ADP Nonfarm releases Wednesday, Intitial Jobless comes out Thursday, and the Unemployment Rate releases Friday.U.S. JOLTs Job OpeningsA survey by the US Bureau of Labor Statistics to help measure job vacancies. It collects data from employers about their businesses' employment, job openings, recruitment, hires, and separations.JOLTS defines Job Openings as all open positions (not filled) on the last business day of the month.U.S. ISM Manufacturing PricesThe Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) Report on Business is based on data compiled from monthly replies to questions asked of purchasing and supply executives in over 400 industrial companies. For each of the indicators measured (New Orders, Backlog of Orders, New Export Orders, Imports, Production, Supplier Deliveries, Inventories, customer inventories, Employment, and Prices), showing the percentage reporting each response.The Prices Paid diffusion index is one of several indicators pointing to the degree of inflationary pressures in the economy.🎙️Q:1. What does raising demand for goods but lower prices mean for the economy? 2. Does Inflation and the Job Market affect your portfolio?View disclosures here.