For those who don’t watch this stuff as obsessively as I do, here’s the June Semi.org b2b data. Oh no, b2b dropped and so did bookings!
As an economic indicator b2b is not what matters, the bookings are. They dropped a teeny and are still very elevated. The equipment sector is healthy. What’s more, the billing data imply that AMAT, LRCX and friends should have a solid reporting season.
Taking it a step further, go look at Palladium vs. Gold as a cross reference on the economy. It’s not activated but it’s on the way. I realize that writing positive things on the economy is not in style these days (what with all the backward looking info for people to focus on) and just as soon as the indicators tell me to stop writing them, I will. But… not yet.
[edit] for more detail, see here.
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