I haven’t said they were indicative or said anything else about them, other than they exist (sluggishly) and then executive policy came and we are watching the result on gdp.
2 Likes
The problem is current policies are not forward looking.
1 Like
On a related note, the ISM services numbers were up last month.
Services sector, the main engine of the U.S. economy, strengthened in April
https://www.marketwatch.com/story/services-sector-the-main-engine-of-u-s-economy-strengthened-in-april-7ce4c747?mod=home_ln
The Institute for Supply Management said on Monday that its service-sector PMI rose to 51.6% in April from 50.8% in the prior month. Economists polled by the Wall Street Journal had expected the ISM index to slip to 50.4%.
A measure of new orders rose to 52.3% in April from 50.4 in the prior month.
DB2
1 Like
Commenting just on this. I don’t know of any significant chips that Qualcomm imports from China. They do rely heavily on TSMC FABs for chips, but these come from Taiwan.
Some chips may go to China for testing and packaging…I don’t know how the tariffs would work when the country of origin is Taiwan and then there is some value add from another country.
Mike
1 Like
The [Euro zone] services PMI dropped to 50.1 from 51.0 in March, its lowest reading in five months and barely above the neutral threshold…
Germany, Europe’s largest economy, barely expanded with a reading of 50.1, while France remained in contraction at 47.8.
DB2
Tuesday’s events add uncertainty to an economy that hasn’t seen significant growth since before the COVID-19 pandemic…It remains possible that Merz and a coalition between his Union bloc and the center-left Social Democrats will eventually take power in subsequent voting rounds under Germany’s constitution. Parliament was voting again Tuesday afternoon.
“However, the failed vote, and fact that it came out of the blue, have already weakened Merz significantly," said Franziska Palmas, senior Europe economist at Capital Economics.
“His promise to run a much more efficient and conflict-free government … looks much less credible now. And delivering on his economic proposals, including a big increase in defense and infrastructure spending, corporate tax cuts, bureaucracy cuts and digitalization, will be more difficult than expected,” Palmas added.
DB2