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Today 2.45 pm GMT US Purchasing Managers' Index (PMI) data was released.
Fine lines are-
a) Positive takeaways -
- The latest manufacturing data shows healthier economy than expected. PMI reading 54.3 compared to 53.6 expected and 53.9 prior
- Expansion of production volumes, increase in output highest since October, 2014
- New orders increased, more than 5 years of continuous business expansion
- Manufacturers' cost burden reduces further.
b) Negative takeaways -
- New hiring is slowing down
- Lack of demand coming from the energy sector that could deteriorate further
- Export growth is turning sluggish
Negative aspects are concerning but not unexpected given the rise of dollar and fall in oil price.
On a backdrop of stronger growth Dollar is expected to perform well.
