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US ISM Manufacturing Confirm the Recovery Picking Up Speed
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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