Market Insights, Two the Point

Two the Point — The U.S. Economy’s Strong Performance and Market Potential

Andrew Davis, CFA®

Bryn Mawr Capital Management

< 1 min read

April 12, 2024

Two the Point

This week we review the robust performance of the U.S. economy with a look at the labor market’s strength, manufacturing resurgence, and the service sector’s easing inflation pressures – all crafting a promising narrative for investors.

Key insights from March 2024:

The U.S. economy added 303,000 jobs and the unemployment rate dropped to 3.8%, indicating strong, non-overheating growth.
Average hourly earnings rose by 0.3% with year-over-year growth cooling to 4.1% as labor supply expands and immigration remains robust.
ISM Manufacturing PMI Index marked its first expansionary reading in 17 months by climbing to 50.3, signaling potential bullish trends for equity markets.
The ISM Services PMI remained in expansionary territory while the Prices Paid component decreased by 5.2 points, highlighting decreasing service sector inflation and supporting the Federal Reserve’s inflation management strategy.

Andrew Davis, CFA®

Bryn Mawr Capital Management

Andrew Davis leads a team that analyzes broad economic trends and factors that impact global and national economies. He joined the company in 2019.

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