May 2020 Markit manufacturing data
- Prelim was 39.8
- Prior was 36.1
- Output 34..4 vs 28.8 prior
- New orders 34.6 vs 27.7 prior
The April reading was the lowest on record and the bounce in May isn't exactly rousing. The bigger question is when we get back above 50. I can see it getting there in the next month or two, simply because that would signal improvement from the low base. What I'd really like to see is a rise above 53 or something to signal better investment and hiring but that almost seems like a pipedream until COVID-19 is done.
