U.S. and Eurozone Manufacturing PMIs Both Drop in September

October 1, 2015

Both indices fell but not to less than 50, meaning that operating conditions improved but at a slower pace.  The U.S. factory purchasing managers index fell 0.9 points to a 23-month low of 50.2.  Euroland’s PMI reading was 52.0, down 0.3 points to a 5-month low.  Inflation decelerated in both economies, and the euro appreciated, matching June’s level for a three-month high on average against the dollar.

Mfg PMIs U.S. Euroland Spread EUR/USD
Jan 2013 53.1 47.9 +5.2 1.330
February 53.1 47.9 +5.2 1.334
March 51.5 46.8 +4.7 1.295
April 50.0 46.7 +3.3 1.301
May 50.0 48.3 +1.7 1.299
June 52.5 48.8 +3.7 1.319
July 54.9 50.3 +4.6 1.309
August 56.3 51.4 +4.9 1.331
September 56.0 51.1 +4.9 1.335
October 56.6 51.3 +5.3 1.364
November 57.0 51.6 +5.4 1.349
December 56.5 52.7 +3.8 1.370
Jan 2014 51.3 54.0 -2.7 1.361
February 54.3 53.2 +1.1 1.366
March 54.4 53.0 +1.4 1.380
April 55.3 53.4 +1.9 1.380
May 55.6 52.2 +3.4 1.374
June 55.7 51.8 +3.9 1.360
July 56.4 51.8 +4.6 1.354
August 58.1 50.7 +7.4 1.332
September 56.1 50.3 +5.8 1.290
October 57.9 50.6 +7.3 1.268
November 57.6 50.1 +7.5 1.247
December 55.1 50.6 +4.5 1.232
Jan 2015 53.5 51.0 +2.5 1.162
February 52.9 51.0 +1.9 1.135
March 51.5 52.2 -0.7 1.083
April 51.5 52.0 -0.5 1.081
May 52.8 52.2 +0.6 1.116
June 53.5 52.5 +1.0 1.123
July 52.7 52.4 +0.3 1.101
August

September

 51.1

50.2

 52.3

51.1

 -1.2

-1.8

 1.114

1.123

Copyright 2015, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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