EIU Nowcast: Coronavirus will test the economy’s resilience
2024-04-07 10:48
The EIU nowcast for 2020 Q1 US GDP growth moved up to 2.02% (Y-on-Y) from 1.99% as on 28th Feb 2020.
The prominent data releases for the week were the ISM PMI (manufacturing and non-manufacturing), ADP Payroll data and non-farm payroll data for the month of February. The nowcast improved owing to the ISM composite index as non manufacturing PMI (posting a 1-year high) pushed the index upward.
Overall, US data is still holding up against a backdrop of market turmoil. The impact of the coronavirus is yet to be seen in macroeconomic data.
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Data releases (last week)
Indicators Reference Period Release Date ISM Mfg: PMI Composite Index (SA, 50+ = Econ Expand) Feb (20’) 2nd Mar 2020 ISM Composite Index (SA, >50=Increasing) Feb (20’) 2nd Mar 2020 US Markit PMI: Manufacturing [Actual] (SA, 50 +=Expansion) Feb (20’) 2nd Mar 2020 US PMI: Services Business Activity Index [Actual] (SA, 50+=Expansion) Feb (20’) 4th Mar 2020 ADP Nonfarm Private Payroll Employment (SA Change, Thous.) Feb (20’) 4th Mar 2020 Manufacturers’ New Orders: Durable Goods [Actual] (SA, Mil.$) Jan (20’) 5th Mar 2020 Manufacturers’ Inventories: Durable Goods [Actual] (EOP, SA, Mil.$) Jan (20’) 5th Mar 2020 Manufacturers’ Unfilled Orders: Durable Goods [Actual] (EOP, SA, Mil.$) Jan (20’) 5th Mar 2020 Change in Nonfarm Payrolls excluding the Effect of Strikes (SA, Thous) Feb (20’) 6th Mar 2020 Exports, f.a.s.: Goods (SA, Mil.$) [Actual] Jan (20’) 6th Mar 2020 Imports, Customs Value: Goods (SA, Mil.$) [Actual] Jan (20’) 6th Mar 2020 Data releases (current week)
Indicators Reference Period Release Date University of Michigan: Consumer Sentiment [Flash] (NSA, Q1-66=100) Mar (20’) 13th Mar 2020 Contact us
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