manufacturing conditions in the U.S. and Euroland

Greatest Convergence of U.S. and Euroland Manufacturing Since January 2018

March 2, 2020

The U.S. ISM-compiled purchasing managers index dropped 0.8 points to a 7-month low of 50.1 in February. Such a level connotes stagnant growth in factory output and historically has been also consistent with real GDP growth of about 2.1%. The composition of the report was more concerning than the aggregated index. Imports, which affect GDP […] More

U.S.-Minus-Euroland Advantage in Manufacturing Narrowed in April

May 2, 2019

The widening of the ISM U.S. minus euro area IHS purchasing purchasing manager manufacturing differential that had occurred in March was exactly reversed in April. The spread dropped from 7.8 points to 4.9 points, as the euro recorded its firmest monthly average against the dollar since December 2017. Manufacturing is more sensitive to movements in […] More

U.S.-Minus-Euroland Manufacturing PMI Spread Narrowed Sharply Last Month

August 1, 2018

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 […] More

Latest PMI Evidence on U.S. and Ezone Manufacturing Conditions

June 1, 2018

Even though the dollar posted its strongest monthly average in May since last November, the U.S. minus Euroland manufacturing purchasing managers indices swung 2.1 points further in favor of the United States. This created the most U.S.-advantageous differential since the end of 2014. The Institute of Supply Management’s U.S. PMI rose 1.4 points to a […] More

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