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US Manufacturing PMI at a three-month high

Monday, Jun 01 2015
The May PMI registered 52.8 percent, an increase of 1.3 percentage points over the April reading of 51.5 percent. Smaller increase to 51.9 percent was expected. The New Orders Index registered 55.8 percent, an increase of 2.3 percentage points from the reading of 53.5 percent in April. The Production Index registered 54.5 percent, 1.5 percentage points below the April reading of 56 percent. The Employment Index registered 51.7 percent, 3.4 percentage points above the April reading of 48.3 percent, reflecting growing employment levels from April.
 
Inventories of raw materials registered 51.5 percent, an increase of 2 percentage points from the April reading of 49.5 percent. The Prices Index registered 49.5 percent, 9 percentage points above the April reading of 40.5 percent, indicating lower raw materials prices for the seventh consecutive month. Comments from the panel carry a positive tone in terms of an improving economy, increasing demand, and improving flow of goods through the West Coast ports. Also noted; however, are continuing concerns over the price of the US dollar and challenges affecting markets related to oil and gas industries.
 
Data did not have any major impact on the markets, with USD adding few points. Euro is currently being traded around 1.0930 area, Sterling is few points above 1.5220 level, while Aussie is at 0.7620 area.
More in this category: « UK Manufacturing PMI rise less than expected Australian Current Account deficit rose to $10.7 billion »

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