More and more signs of inflation are showing up.
In the latest ISM reading (a measure of economic activity in the US), this following tidbit showed up:
- Factory index climbed to 60.8 (est. 58.1), the highest since May 2004, from 58.8; readings above 50 indicate expansion
- Measure of new orders increased to 64.6, the strongest since February, from 60.3
- Employment gauge rose to 60.3, the best reading in more than six years, from 59.9
- Index of prices paid advanced to 71.5, the highest since May 2011, from 62
Put simply, the US economy is moving sharply forward with significant growth… and much HIGHER prices being paid. The reference to year 2011 is particularly relevant as that marked the last major inflationary spike in the US.
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The $USD has already caught on to this, having dropped 10%. And the long-term chart is even uglier.
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