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Purchasing Managers Index: Difference between revisions
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On February 21 2022, S&P Global announced that February U.S. PMI Composite came in 50.2 versus 47.5 consensus and 46.8 in January. This ended the seven months of the index coming below the 50 mark that seperates contraction and expansion. Both the service and manufacturing PMI also saw growth. Service PMI grew from 46.8 in January to 50.5, above the consensus estimate of 47.2. On the other hand, Manufacturing PMI came in 47.8 versus 47.1 consensus and 46.9 in January. Similarly, the measure of prices paid by businesses for inputs declined to 60.6 in February from a final reading of 63.0 in January<ref>https://finance.yahoo.com/news/u-business-activity-rebounds-eight-150453541.html</ref>. | On February 21 2022, S&P Global announced that February U.S. PMI Composite came in 50.2 versus 47.5 consensus and 46.8 in January. This ended the seven months of the index coming below the 50 mark that seperates contraction and expansion. Both the service and manufacturing PMI also saw growth. Service PMI grew from 46.8 in January to 50.5, above the consensus estimate of 47.2. On the other hand, Manufacturing PMI came in 47.8 versus 47.1 consensus and 46.9 in January. Similarly, the measure of prices paid by businesses for inputs declined to 60.6 in February from a final reading of 63.0 in January<ref>https://finance.yahoo.com/news/u-business-activity-rebounds-eight-150453541.html</ref>. | ||
== Developments in Euro Zone Purchasing Managers Index(PMI) == | |||
On February 21 2022, S&P Global said that Euro zone S&P Global's flash Composite Purchasing Managers' Index (PMI) rose to 52.3 in February from 50.3 in January, above the 50.6 consensus and also a nine-month high. Service PMI saw a fastest growth as it increased to 53.0 from 50.8 in January, exceeding the median estimate for 51.0. Similarly, business expectations grew to a nine-month high of 61.5, from 61.2 in January. However, Manufacturing PMI declined to 48.5 from 48.8 in January, below the 49.3 estimate. Of great interest to us is German's S&P Global's flash composite Purchasing Managers' Index (PMI) which returned to growth after 8 months. It rose to 51.1 in February from 49.9 in January,beating the 50.4 consensus estimate. Like in Euro Zone, German's manufacturing PMI fell to 46.5 from 47.3 in January, below the 48.0 consensus and remaining in contraction territoy for an eight month. German's Service PMI, on the other hand, saw slight growth for the second month as it grew to 51.3 from 50.7 in January, in line with analysts' expectations of a reading of 51.0.<ref>https://www.reuters.com/video/watch/euro-zone-business-growth-at-9-month-hig-idOV191321022023RP1</ref> | |||
== What's Purchasing Managers Index(PMI)? == | == What's Purchasing Managers Index(PMI)? == | ||