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Tuesday, March 2, 2021

US ISM PMI increased to 60.8 in February 2021.

 




The prices increased further by 3.9 to 86 because of the rising freight costs.  This also impacted the supplier’s deliveries by +3.8 to 72 as a higher number indicated slower deliveries.  It seemed that the rising freight costs were deterring manufacturers from ordering raw materials.


http://sg-stock.blogspot.com/2021/01/the-us-inflation-is-coming-part-5.html


However, the producers ramped up their production (63.2, +2.5) further which resulted in inventories reduction (49.7, -1.1) and an increase in employment (54.4, +1.8) to prepare for a rebound in the customers’ inventories (32.5, -0.6) which was too low.  The increase in new order (64.8, +3.7) was due to higher new export and local orders.  This could be seen in the monthly US retail sales figure below.


https://www.cnbc.com/2021/02/24/us-retail-sales-to-rise-6point5percent-to-8point2percent-in-2021-national-retail-federation-says.html



All these resulted in the PMI that increased to 60.8 (+2.1) in Feb 2021.  This means that the US economy will still continue to improve unless there is another major lockdown due to the new covid variant.

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