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Friday, April 23, 2021

April U.S. PMI composite moves higher, highest since October 2020

  • April U.S. PMI Composite Flash: 62.2 vs prior 59.7.
  • Manufacturing PMI: 60.6 vs. 60.5 consensus and prior 59.1.
  • Services PMI: 63.1 vs. 61.9 consensus and prior 60.4.
  • April saw a survey record expansion of output in private sector; however supply chain disruptions continue to hamper goods production.
  • "The U.S. economy is enjoying a strong start to the second quarter, firing on all cylinders as loosening virus restrictions, an impressive vaccine roll-out, a brighter outlook and stimulus measures all helped boost demand," Chris Williamson, Chief Business Economist at IHS Markit commented.

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