Gavekal Capital: US PMIs Highest Since 2005

Tuesday, August 5, 2014

US PMIs Highest Since 2005

The ISM Non-Manufacturing index came in much higher than expected for July at 58.7 vs consensus of 56.5. Consequently, it helped boost our "GDP weighted" PMI to it's highest level since December 2005. The new orders index also reached it's highest level since August 2005. Overall, it was a very solid ISM Non-Manufacturing report for the US today.

About Gavekal Capital

Gavekal Capital is a US registered investment advisory firm that manages the Gavekal Knowledge Leaders Strategy. Knowledge Leaders are a group of the world’s leading innovators with deep reservoirs of intangible capital. These companies often possess competitive advantages such as strong brand, proprietary knowledge or a unique distribution mechanism. Knowledge Leaders are largely service-based and advanced manufacturing businesses, often operating globally. Gavekal Capital seeks to identify the world’s leading knowledge companies through a proprietary process that analyzes corporate knowledge investments.
We offer the Gavekal Knowledge Leaders Strategy in multiple products for global investors. For more information about our product offerings please visit http://www.gavekalcapital.com.
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