News & Insights
Welcome to the FIA News & Insights, a one-stop resource that includes insights from senior investment professionals on timely market events, their views on the economy and their respective markets. Find updates on the latest media information on Frost Investment Advisors, LLC and the most recent reprints, as well as, archival information for your reference.
The Service Sector Continues to Expand Though Small Businesses are Feeling the Pain of High Rates
ISM manufacturing is indicating contraction, rising to 47.6 from 46.4 in July. New orders relative to inventories improved, and manufacturing could get a boost later this year as goods draw down. Federal spending plans like the CHIPS and Inflation Reduction acts will also add to production. Supply-chain snarls and inflationary pressures continue to ease – manufacturers’ input prices have been declining all year, which should translate into lower consumer goods prices. S&P Global’s PMI confirms continued contraction for U.S. manufacturing, with a somewhat more pessimistic take than ISM’s report.
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