IHS Markit Friday (22) announced the preliminary value of the U.S. January Purchasing Managers Index (PMI), strong growth in new orders, the U.S. manufacturing industry PMI pushed to the highest level in 13 and a half years, but the Epidemic led to a broken chain of supply chain, still continue to push up input prices, the future inflationary pressure may intensify.
U.S. January PMI data.
U.S. January manufacturing PMI preliminary value reported 59.1, reported 57.1 in December last year
U.S. January services PMI preliminary value of 57.5, reported 54.8 in December last year
U.S. January composite PMI preliminary value of 58.0, reported 55.3 in December last year
U.S. January preliminary manufacturing output index at 60.5, compared with 58.3 in December last year
U.S. composite PMI and GDP trends (Chart: IHS Markit)U.S. composite PMI and GDP trends (Chart: IHS Markit)
Markit reported that the U.S. composite PMI rose from 55.3 last month to 58.0, writing the second highest since March 2015, of which the strongest performance in the manufacturing sector, production, new orders, exports were up, manufacturing PMI rose from 57.1 last month to 59.1, the highest since May 2007.
The Markit report shows that the factory price index has risen to the highest since July 2008, and a number of recent manufacturing surveys have shown that the Inflation rate may continue to rise.
HS Markit business economist Chris Williamson said that over the past 2 months, supply shortages are developing at an unprecedented rate, the market supply and demand imbalance, resulting in higher prices, input cost inflation touched the highest level since the launch of the survey, for the average price of goods and services constitute upward pressure.
Williamson further said that the impact of the epidemic, people’s concerns about the decline in demand for services and rising costs, so that employment indicators hit the worst performance since July last year.
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