In today’s post I’ll update the composite indicator heat map for July. See this post for an introduction to the composite indicators and the heat map.
Below is the composite indicator heat map as of Friday, June 30, 2017. We’ve added in release dates for any indicators that have not been reported yet for the month of May.
In general, we have the same picture as last month. All the composite economic indicators are showing green confirming what the individual economic indicators were telling us earlier this month. We have had some weakening in the indicators, especially the higher frequency ones like BCI and WLIg, but nothing that has entered warning territory. Wether the recent weakness represents a significant weakening of the economy or just a pull back from unusual post election strength remains to be seen.