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US ISM Manufacturing Surges Back Up

Posted Tuesday, January 5, 2021 by
Skerdian Meta • 1 min read

 

MANUFACTURING AT A GLANCE
December 2020
Index Series Index Series Index Percentage Direction Rate of Change Months
Dec Nov Point
Change
Manufacturing PMI® 60.7 57.5 3.2 Growing Faster 7
New Orders 67.9 65.1 2.8 Growing Faster 7
Production 64.8 60.8 4 Growing Faster 7
Employment 51.5 48.4 3.1 Growing From Contracting 1
Supplier Deliveries 67.6 61.7 5.9 Slowing Faster 14
Inventories 51.6 51.2 0.4 Growing Faster 3
Customers’ Inventories 37.9 36.3 1.6 Too Low Slower 51
Prices 77.6 65.4 12.2 Increasing Faster 7
Backlog of Orders 59.1 56.9 2.2 Growing Faster 6
New Export Orders 57.5 57.8 -0.3 Growing Slower 6
Imports 54.6 55.1 -0.5 Growing Slower 6
OVERALL ECONOMY Growing Faster 8
Manufacturing Sector Growing Faster 7

The US manufacturing sector continues to impress. In fact, manufacturing rebounded well worldwide in summer after the lock-downs, but the US manufacturing has performed extremely well. It keeps increasing and today’s report showed another jump, taking the ISM indicator above 60 points.

We saw a cool off in November, but the expansion resumed again in December and now this indicator is heading for all time highs. This should be positive for the USD, but the Buck is waiting for the politic scene to clear up in the US, with elections in Georgia this week.

 

ISM manufacturing

  • ISM December manufacturing index 60.7 points vs 56.7 expected
  • Highest reading since Aug 2018
  • November manufacturing index was 57.5 points
  • New orders 67.9  points vs 65.1 (prior 65.1 points)
  • Prices paid 77.6 points vs 65.0 expected (prior 65.4 points )
  • Employment 51.5 points vs 48.4 prior
This is a great report, something I warned about earlier. With a slight bump from here, it will be at the highest since 2004. The gains comes after a strong Markit manufacturing PMI yesterday. The jump in prices paid should be concerning for the Fed but they continue to brush it off.

 

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