- Prior -8.9 (was expecting -11.0)
- Business index -24.3 versus -7.4 estimate
- employment 5.1 versus +10.9 last month
- average work week -3.2 versus 4.0 last month
- price paid 26.5 versus 24.5 last month
- prices received 14.9 versus 29.9 last month
- delivery times -13.6 versus -5.6 last month
- new orders -13.6 versus -10.9 last month
- shipments 8.7 versus 11.1 last month
- unfilled orders -17.0 versus -19.2 last month
looking forward six months
- future activity 1.7 versus 4.9 last month
- employment 8.1 versus -1.9 last month
- average work week -2.1 versus -6.9 last month
- Capex 7.5 versus 10.5 last month
- average work week -2.1 versus -6.9 last month
- prices paid 17.9 versus 25.7 last month
- prices received 19.1 versus 21.3 last month
- delivery times -24.0 versus -9.1 last month
- new orders 9.2 versus 2.4 last month
- shipments 4.6 versus 9.1 last month
- unfilled orders -12.4 versus -0.6 last month
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Summary:
- current indicators remain week
- six consecutive negative reading
- lowest reading since May 2020
- employment remain positive but down from the previous month
- prices paid ticked up after reaching a 2 1/2 year low last month
- prices received dropped 15 points which was the lowest reading since February 2021 and slightly above its long-run average
For the future indicators, they remained soft:
- new orders increased but shipments declined.
- Firms expect increases in employment
- both future price price indices were below their long-run averages
\Inflation
