No signs of weakness in this month’s Chicago Fed Midwest Manufacturing Index. This remains consistent with prior ISM reports which have all been displaying robust expansionary trends (via Chicago Fed):
“The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.3% in February, to a seasonally adjusted level of 83.3 (2007 = 100). Revised data show the index increased 1.8% in January to 82.2. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) rose 0.7% in February. Regional output in February rose 11.7% from a year earlier, and national output increased 7.4%.”
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.