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23 Jan 2015
Flash US manufacturing PMI declines in January
FXStreet (London) - The seasonally adjusted Markit Flash US Manufacturing Purchasing Managers’ Index fell from 53.9 in December to 53.7 in January.
According to the report from Markit, slower new business growth was a key factor weighing on the overall performance of the US manufacturing sector in January. Volumes of new work increased in each month since September 2009, but the latest upturn was the weakest for a year and slightly slower than the average seen during the current period of expansion.
Reports from Markit survey respondents suggested that improving domestic economic conditions continued to boost new order levels, but overall export demand remained lacklustre. Meanwhile, some manufacturers noted that reduced spending among clients operating in the oil and gas sector had weighed on new order volumes during January.
Commenting on the flash PMI data, Chris Williamson, Chief Economist at Markit said: “Business conditions continued to improve among US factories at the start of the year, though the rate of growth continued to cool from the scorching pace seen in the summer months. The slowdown is being led by a weakening inflow of new orders, but the good news is that demand remained strong enough to drive yet another month of robust job creation at factories. Producers are also benefiting from the recent oil price slide, which helped reduce overall input costs for the first time for two-and-a half years.
According to the report from Markit, slower new business growth was a key factor weighing on the overall performance of the US manufacturing sector in January. Volumes of new work increased in each month since September 2009, but the latest upturn was the weakest for a year and slightly slower than the average seen during the current period of expansion.
Reports from Markit survey respondents suggested that improving domestic economic conditions continued to boost new order levels, but overall export demand remained lacklustre. Meanwhile, some manufacturers noted that reduced spending among clients operating in the oil and gas sector had weighed on new order volumes during January.
Commenting on the flash PMI data, Chris Williamson, Chief Economist at Markit said: “Business conditions continued to improve among US factories at the start of the year, though the rate of growth continued to cool from the scorching pace seen in the summer months. The slowdown is being led by a weakening inflow of new orders, but the good news is that demand remained strong enough to drive yet another month of robust job creation at factories. Producers are also benefiting from the recent oil price slide, which helped reduce overall input costs for the first time for two-and-a half years.