U.S. and Euroland manufacturing PMIs

December Sees Largest U.S. Versus Ezone Manufacturing Sector Advantage Since April

January 5, 2021

The announced existence of effective Covid vaccines lifted conditions faced by manufacturers in both the United States and Euroland in December. U.S. conditions according to the Institute of Supply Management improved by 3.2 index points to a 28-month high of 60.7. Euroland’s IHS-compiled manufacturing survey index rose 1.4 points to a 31-month high of 55.2, […] More

Recent See-Saw Pattern in Spread between U.S. and Euroland Manufacturing PMIs

September 1, 2020

The ISM-compiled U.S. manufacturing purchasing managers index rose 1.8 index points to a 19-month high of 56.0 in August and easily beat analyst expectations. Euroland’s IHS-compiled manufacturing PMI, by contrast, dipped 0.1 point to a 2-month low of 51.7. The spread between those two data series thus shifted 1.9 points more advantageously toward the United […] More

Manufacturing Recession on Both Sides of the Atlantic

October 1, 2019

The manufacturing sector is very sensitive to the strength of export demand. Consequently, the trends of the U.S. and euro area manufacturing purchasing manager indices provides good empirical evidence to test President Trump’s oft-repeated assertion that the United States will win a trade war and incur minimal collateral damage along the way. Euroland’s IHS-compiled PMI […] More

U.S. Manufacturing Conditions Grew Significantly more Slowly in February, Narrowing Edge Versus Euroland

March 1, 2019

The ISM-compiled U.S. manufacturing purchasing managers index declined 2.4 index points to 54.2, a 27-month low. That was twice as large as the 1.2-point drop in the IHS-compiled euro area manufacturing PMI to a 68-month low of 49.3. As a result, the differential between the two data series narrowed by 1.2 points to 4.9, as […] More

Trade War Concerns Affected U.S. and Euroland Manufacturing Purchasing Manager Indices Equally in September

October 1, 2018

In September, the ISM-Compiled factory PMI index fell 1.5 points to 61.3, while the IHS-compiled euro area PMI dropped 1.4 points to 54.6. The manufacturing sectors continued to improve, but the lower scores in each economy reflects a reduced rate of improvement in operating conditions. And America’s relative advantage was preserved, but the data do […] More

Biggest Euro Area Advantage Over U.S. Since August 2016

December 1, 2017

The ISM┬ápurchasing managers index for U.S. manufacturing settled back a further 0.5 points in November to 58.2 from 58.7 in October and a 13-year high of 60.8 in September. A reading of 58.2 still represents a robust rate of expansion and all the more so because sub-indices for production (up 2.9 points to 63.9) and […] More

Similar October Manufacturing PMI Indices in U.S. and Euroland

November 2, 2017

It was reported today by IHS Markit that Euroland’s manufacturing purchasing managers index rose 0.4 points to an 80-month high of 58.5. Being above 50 since July 2013 means that conditions in manufacturing have been improving since then, and the higher level in October means that the rate of improvement quickened last month. This faster […] More

Biggest U.S. Manufacturing Growth Advantage Versus Euro Area in a Half Year

September 1, 2017

The U.S. manufacturing purchasing managers index jumped 2.5 points in August to a 76-month high of 58.8. That increase was three times greater than the 0.8-point rise of Euroland’s manufacturing PMI to a 2-month high of 57.4, resulting in a 1.7-point U.S.-minus-Euroland PMI spread to 1.4 points. That spread is the most U.S.-advantageous since February. […] More

Strong Factory Growth in Both the U.S. and Euroland

July 3, 2017

In June, U.S. manufacturing overcame a disadvantage relative the the euro area in a single month, as the euro advanced to its strongest monthly average in a year against the dollar. The U.S. Institute of Supply Management reported a 2.9-point increase in the manufacturing purchasing managers index to 57.8, signifying the strongest rate of improvement […] More

Soft Euro Lifting Euroland Manufacturing at U.S. Expense

May 2, 2017

The manufacturing purchasing managers index of Euroland, 56.7, surpassed its U.S. counterpart, 54.8, in April for the first time since April. The lagged effect of the post-Trump dollar rally is a major reason why. Manufacturing is more sensitive to currency movement than non-manufacturing. Although the table below uses the ISM compilation for its U.S. component […] More

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