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ORIGINAL POST, SEE UPDATE BELOW: And now ladies in gentlemen, a historic moment in the US economy.For the first time ever, the US is getting its own Flash manufacturing survey.
The folks at Markit are releasing (at 8:58 or 9:00 AM ET) their Flash PMI report, a preview of next week’s big ISM number.
Other countries have had the Flash PMI for a while, but this is our first.
There’s no official consensus, but based on a survey of people’s guessed on Twitter, the consensus is 51.1.
Anything above 50 is indicative of growth.
53.9, Great number!
More to come…
From the release:
The May Markit Flash U.S. Manufacturing Purchasing Managers’ Index™
(PMI™) indicated a solid improvement in U.S. manufacturing sector business conditions, according to the preliminary ‘flash’ reading which is based on around 85% of usual monthly replies. However, with the seasonally adjusted PMI falling from 56.0 in April to 53.9, the headline PMI nonetheless signalled the weakest expansion in three months.
The PMI was pulled down by output, new orders, inventories of purchases and employment all rising
at slower rates than April, while supplier delivery times lengthened at a reduced rate.
And here’s the key chart:
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