Key components all are accelerating including new orders, backlog orders, production and also employment. Special strength is being registered in new export orders where growth is at 2-year high and likely reflecting the benefits from this year's decline in the dollar. Price data are showing life with raw material costs rising, in part due to steel, and selling prices showing the strongest increase since January. But the sample is still managing inventories tightly, with inputs falling at the fastest pace in 2-1/2 years and finished goods also dropping.
There's plenty of indications on the manufacturing sector and, though only one among them, the manufacturing flash is pointing to modest traction for a factory sector that has been stumbling so far this year.
Recent History Of This Indicator:
The manufacturing PMI is expected to hold at a near standstill, barely above 50 at 51.0 for the June flash vs a final May reading of 50.7. Order growth in this report has been marginal with export orders and backlog orders in contraction. Production in May, for the first time this cycle, fell into outright contraction.
The manufacturing PMI is expected to hold at a near standstill, barely above 50 at 51.0 for the June flash vs a final May reading of 50.7. Order growth in this report has been marginal with export orders and backlog orders in contraction. Production in May, for the first time this cycle, fell into outright contraction.
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