Manufacturing Improves Further in the US
Skerdian Meta•Monday, March 15, 2021•1 min read
While services are catching up in the US, manufacturing is still surging higher. The ISM manufacturing increased to the highest levels in recent years, while the Empire Fed is also catching up. Prices paid in particular have shot to the highest levels in a decade.
US March Empire Fed Manufacturing Activity
- March Empire Fed +17.4 points vs +14.5 expected
- February Empire Fed was 12.1 points
- New orders +9.1 points vs +10.8 prior
- Prices paid +64.4 points vs +57.8 prior — highest since May 2011 (69.9)
- Six month conditions +36.4 points vs +34.9 prior
- Employment +9.4 points vs +12.1 prior
The sequence on prices paid for the past five months: 64.4, 57.8, 45.5, 37.1, 29.1. And it’s not going down with commodity prices still sky high. Overall, it’s a good report that shows there is no let-up in manufacturing demand. EUR/USD has turned bearish again today.
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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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