Biden's Boom Continues to Roll Across America


 
All US Sales Managers Indexes rose in March, all bar one rather sharply. All are over the critical 50 no-growth line. The Business Confidence Index, the crucial "animal spirits" ingredient in economic growth is riding high at 54.6, the best reading for 26 months.

The evidence presented by the March Sales Managers Survey suggests that the Federal Reserve's interest rate hikes have had at best a very modest restraining impact on economic activity levels.


However the Fed's efforts at cutting price inflation do seem to be working, with the Sales Managers Price index now at a 44 month low.

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