US ISM Manufacturing Confirm the Recovery Picking Up Speed
US ISM manufacturing PMI jumped higher to 56 points yesterday
Skerdian Meta•Wednesday, September 2, 2020•1 min read
The global economy started to bounce higher pretty nicely in May and June, after the big crash during the lock-downs. But, it started showing signs of weakness in In July and more so in August, as the economic rebound slowed. The US economy on the other hand, has been showing the opposite, as it keeps growing.
Last week we saw some decent figures from the US, while yesterday the ISM manufacturing indicator for August jumped higher. So, the US and the European economies are walking on different paths right now. Below is the manufacturing report:
August 2020 ISM manufacturing index highlights
- August ISM manufacturing index 56.0 vs 54.8 expected
- Highest level since Nov 2018
- June manufacturing index was 54.2
Details:
- New orders 67.6 vs 61.5 prior — highest since 2004
- Prices paid 59.5 vs 53.2 prior
- Employment 46.4 vs 44.3 prior
- Inventory 44.4 vs 47.0 prior
- Production 63.3 vs 57.3 prior
- Backlog of orders 54.6 vs 45.3 prior
- Supplier deliveries 58.2 vs 56.9 prior
- Customer inventories 38.1 vs 44.6 prior
- New export orders 53.3 vs 47.6 prior
- Imports 55.6 vs 48.8 prior
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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