The latest PMI was very bad because it showed that local consumption (Est’d -2.1), production (45.9, - 2.6), employment (43.4, -5.9) and inventories (44.5, -0.9) fell simultaneously while the prices rose (52.9, +0.8). This meant that the producers were cutting back on their production because of declining local consumption. This also meant that the US would be facing an economic slowdown in the future and the inflation was unlikely to fall further.
No comments:
Post a Comment