Wednesday, February 8, 2023

The US PMI rises and moderates the economic contraction

The composite Purchasing Managers’ Index (PMI) for the United States rose to 46.6 in January from 45.0 in December, and is at a three-month high, S&P Global has revealed.

That this figure does not exceed 50 implies that US economic activity continues to contract.

S&P indicates that this withdrawal is general in all sectors, but with a contraction that is moderating.

However, despite the sluggishness of consumption and demand, the job market advanced at the beginning of 2023, albeit timidly.

In disaggregated terms, the PMI for Commercial Activity in the Services Sector is at its highest for three months, with 46.6 points, that is, an increase of 1.9 compared to the last month of 2022.

For its part, the PMI of the Manufacturing Sector reached 46.8 from 46.2 in December. Also at maximums for two months.

Likewise, the Manufacturing Sector Production PMI, which measures whether company activity is higher, equal or lower than the previous month, rose to 46.7, an increase of 0.5 points. Again, a brand unbeaten for two months.

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