• Prior 56.4
  • Employment 53.8 vs 53.7 prior
  • New orders 61.7 vs 58.8 prior
  • Output 61.0 vs 59.6 prior

A nice jump in the manufacturing sector and the buck does nada. There’s no pleasing some people.

US Markit manufacturing PMI flash details 23 06 2014

US Markit manufacturing PMI flash details 23 06 2014

“US industry is booming again, with the flash manufacturing PMI hitting its highest for just over four years in June. The strong reading also rounds off the best quarter for factories for four years, adding to indications that the US economy rebounded strongly in the second quarter from the weather-related weakness seen at the start of the year.”
“The survey data suggest that GDP should be set to rise by at least 3.0% after the 1.0% decline in the first quarter. If there’s a weak spot it’s the near-stagnation of
exports, which raises the possibility that trade will have acted as a drag on the economy in the second quarter. Hiring also continued at a robust pace as firms boosted capacity in line with the strong demand, broadly consistent with factories taking on another 12,000 staff during the month. The job markets gains will fuel hopes that we will see yet another month of approximately 200,000 non-farm payroll growth in June.” Says Chris Williamson at Markit

The components show some decent gains but that export number is a worry. As we’ve seen from the inflation numbers prices are on the up and this report shows that also with both input and output prices up.

US Markit manufacturing PMI chart 23 06 2014

US Markit manufacturing PMI 23 06 2014