USA: GS Economic Indicators Update

This report provides an update of Goldman Sachs' proprietary US economic indicators. The nominal GS US Financial Conditions Index tightened by 0.1bp to 98.86 over the last week, mostly due to a lower 10-year Treasury yield offset by lower equity prices, while the real (inflation-adjusted) GS US FCI tightened by 0.4bp to 98.52. Our October Current Activity Indicator now stands at +3.5% versus +3.4% in September. The report also refreshes the Capex Tracker, the Manufacturing and Non-Manufacturing Survey Trackers against the ISM manufacturing and services indices, the Wage Tracker and monthly wage surveys, the Core Inflation Tracker versus core PCE inflation and the FOMC's 2% target, and the GS Social Media Economic Sentiment Index versus University of Michigan consumer sentiment.