US Manufacturing PMI fell to 50.5
The U.S. manufacturing sector crept closer to stagnation in May, with the seasonally adjusted Markit Flash U.S. Manufacturing Purchasing Managers’ Index registering only slightly above the neutral 50.0 mark at 50.5. This was down from 50.8 in April and signalled only a marginal improvement in overall business conditions that was the weakest since the current upturn started in October 2009. A renewed fall in production was one key factor weighing on the headline index in May, alongside softer new order growth and further cuts to stocks of inputs.
U.S. manufacturers signalled the first reduction in output since September 2009 in May, although the rate of decline was only marginal. A number of monitored firms mentioned that uncertainty around the general economic outlook had caused clients to delay spending decisions, which in turn prompted firms to trim their production schedules.
Euro is currently being traded few points above 1.1190 level, Sterling is around 1.4440 handle, while Aussie is at 0.72 area.
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