Manufacturing Sector Faces Continued Contraction, ISM Report Reveals
The July Manufacturing ISM® Report reveals continued contraction in the U.S. manufacturing sector, with the Purchasing Managers’ Index (PMI®) dropping to 46.8%. Key metrics, including the New Orders Index and Production Index, indicate weakening demand and output. Despite the overall economy remaining in expansion, manufacturers face significant challenges, including reduced employment levels and tighter supply chains. The report underscores the importance of monitoring these trends as they may impact the broader economy.
US Output Growth Hits 26-Month High in June, Price Pressures Cool
US business activity growth accelerated to its fastest in 26 months in June, with the service sector leading the upturn. Enhanced business confidence and increased demand prompted firms to increase their workforce for the first time in three months. Selling price inflation also rose, indicating a robust end to the second quarter.
HSBC Survey Shows Strong Growth in Indian Business Activity and Job Creation
HSBC survey reports strengthening business activity in June with gains in manufacturing and services sectors. Job creation reaches highest level in over 18 years. Composite PMI for June at 60.9, up from 60.5 in May. Manufacturing sector shows significant improvement with all sub-components contributing to growth. New export orders expand for 22nd consecutive month. Positive trend in business activity and job creation highlighted.
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Stay updated with XM Live Education for the latest market insights and trends. Learn about the recent slowdown in German business activity and its impact on the European Central Bank. Stay informed with the latest news from Reuters to make well-informed decisions in the financial world.
Chicago Business Barometer Contracts Faster Than Expected in May
Chicago-area business activity took an unexpected turn in May with the Chicago Business Barometer falling to 35.4, signaling a faster contraction than anticipated. The decline, the lowest since May 2020, was driven by sharp drops in new orders, order backlogs, and employment indices. Despite this, the production index saw a significant increase, breaking a five-month decline streak. Stay ahead of economic events with RTTNews Economic Calendar and FX Leaders economic calendar for free forex signals and top economic events.
Stock Market Sees Dow End 240 Points Lower as Bond Yields Climb
The stock market today saw the Dow ending 240 points lower as bond yields climbed. The S&P 500 traded near unchanged, and the Dow Jones Industrial Average edged further into negative territory after a closely watched survey of U.S. manufacturing activity unexpectedly returned to expansion territory. The Institute for Supply Management’s manufacturing index rose to an 18-month high of 50.3% in March from 47.8% in the prior month, surpassing economists’ predictions. Figures above 50% signal an expansion in activity. The strong data appeared to fuel a selloff in Treasurys, sending yields higher and softening stock indexes. March marked the first time in 17 months that the barometer of business conditions at American manufacturers turned positive, indicating a potential revival in the industrial sector. The DJIA (Dow Jones Global) closed at 39,180.02, showing a 0.02% increase, while the S&P 500 (S&P US) closed at 5221.14, with a 0.29% increase. The Nasdaq (NASDAQ) closed at 16,320.78, up by 0.49%.
ISM to Release February US Manufacturing PMI Report
The Institute for Supply Management (ISM) is set to release the highly anticipated February United States (US) Manufacturing Purchasing Managers’ Index (PMI), a reliable indicator of the US manufacturing sector’s health and the overall economy. Market players will pay close attention to the figures, which are expected to improve, as well as the ISM Prices Paid Index and the Employment Index. The upcoming release is expected to provide valuable insights into the state of the US manufacturing sector and potential market impacts.
South African Manufacturer Sentiment Slumps to Lowest Level Since 2020 Lockdown
A gauge measuring South African manufacturer sentiment has slumped to the lowest level since the strictest months of the Covid-19 lockdown in 2020, as demand and activity deteriorated sharply. Absa Group Ltd.’s purchasing managers’ index, compiled by the Bureau for…
Private Sector in Germany Remains in Downturn, US Output Growth Reaches Fastest Pace
The latest HCOB ‘flash’ PMI® survey compiled by S&P Global showed that the private sector in Germany remained in a downturn as business activity fell for a seventh straight month in January. The survey also indicated signs of broad-based weakness…
UK Factory Output Lower Than Expected After Fall in Domestic and Export Orders
UK Factory Output Lower Than Expected After Fall in Domestic and Export Orders By Economics correspondent Richard Partington Britain’s factories started the year on a weaker footing after 17 consecutive months of contraction, as higher borrowing costs and a slump…