The prices increased to 59.5 (+6.3) because of a significant depreciation in USD and a huge increase in the new order (67.6, +6.1). The new export and local orders increased significantly because of the weakening USD and pandemic relief aid ($300/weekly) respectively which sustained the consumer spendings. As stated previously on my blog, the US is still undergoing a passive inventory reduction phase which explains the drop in PMI inventories.
http://sg-stock.blogspot.com/2020/08/how-do-you-interpret-ppi-vs-cpi-and.html
However, the production had improved to 63.3 which might indicate that the inventory reduction phase would end soon. Overall, the PMI had risen to 56 which was a good indication of positive economic growth in the US.
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