- Prior 57.3
- Output 60.4 vs 61.0 prior
- Employment 52.1 vs 54.0 prior, lowest since September
A drop back this month after soaring to a 4 year high last month. The sector is still showing good expansion so there’s nothing to worry about in this drop.
“US manufacturers are enjoying a summer of scorching growth. Output grew in July at a rate only just below the four-year peak seen in June as inflows of new orders surged higher again. The data suggest the sector is growing at an annualised rate of roughly 8% as we moved into the second half of the year.”
“The growth rebound that the survey has signalled for the second quarter therefore looks to have been sustained into the third quarter. “Factories were able to raise their prices to the greatest extent seen so far this year as a result of the improvement in demand, suggesting there may be some inflationary pressures building in the manufacturing supply chain.”
“Worryingly, job creation slid to its lowest since last September, which in part reflects concerns that current sales growth may not be sustained. A key source of concern is export sales, which continue to show disappointingly meagre gains.” Said Chris Williamson at Markit
US Markit manufacturing PMI 24 07 2014
