The PMI (50.9, +1.7) increased to expansionary zone (above 50) mainly because of robust consumer demands caused by new order (55.1, +3), new export order (52.4, +2.4) and new local order (est’d +0.6). Consequently, the robust demands boosted the prices to 54.9 (+2.4) which might ignite the US inflation in 2025.
Although the producers increased its employment (50.3, +4.9) and production (52.5, +2.6) to meet the robust demands, the customers’ inventories (46) and inventories (45.9, -2.5) were depleted. The backlog of order (44.9, -1) declined because the production was increased to fulfil the previous orders.
Needless to say, this latest PMI was a positive sign but we’ll need to see a few more months of data to confirm the resiliency of the US economy.
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