Wider U.S. Advantage over Euroland in PMI Service Readings
September 6, 2011
The U.S. minus Euroland service sector purchasing managers differential widened to 1.8 points in August from 1.1 points in July and minus 3.9 points in April. The U.S. score unexpectedly rose 0.6 to 53.3, signifying faster growth than in July. The sum of the manufacturing and services PMIs was +3.4 in August, constituting a 5.9-point improvement in the three months since May.
PMIs | U.S. | Ezone | U.S. | Ezone | Sum of | ||
Services | Services | Spread | Mf’g | Mf’g | Spread | Spreads | |
Feb 2009 | 42.1 | 39.2 | +2.9 | 35.7 | 33.5 | +2.2 | +5.1 |
March | 41.2 | 40.9 | +0.3 | 36.4 | 33.9 | +2.5 | +2.8 |
April | 43.9 | 43.8 | +0.1 | 40.4 | 36.8 | +3.6 | +3.7 |
May | 44.5 | 44.8 | -0.3 | 43.2 | 40.7 | +2.5 | +2.2 |
June | 46.3 | 44.7 | +1.6 | 45.3 | 42.6 | +2.7 | +4.3 |
July | 46.7 | 45.7 | +1.0 | 49.1 | 46.3 | +2.8 | +3.8 |
August | 48.2 | 49.9 | -1.7 | 52.8 | 48.2 | +4.6 | +2.9 |
Sept | 50.1 | 50.9 | -0.8 | 52.4 | 49.3 | +3.1 | +2.3 |
October | 50.1 | 52.6 | -2.5 | 55.2 | 50.7 | +4.5 | +2.0 |
November | 48.4 | 53.0 | -4.6 | 53.7 | 51.2 | +2.5 | -2.1 |
December | 49.8 | 53.6 | -3.8 | 54.9 | 51.6 | +3.3 | -0.5 |
Jan 2010 | 50.5 | 52.5 | -2.0 | 58.4 | 52.4 | +6.0 | +4.0 |
Feb | 52.7 | 51.8 | +0.9 | 57.1 | 54.2 | +2.9 | +3.8 |
March | 54.1 | 54.1 | 0.0 | 60.4 | 56.6 | +3.8 | +3.8 |
April | 54.6 | 55.6 | -1.0 | 59.6 | 57.6 | +2.0 | +1.0 |
May | 54.8 | 56.2 | -1.4 | 57.8 | 55.8 | +2.0 | +0.6 |
June | 53.5 | 55.5 | -2.0 | 55.3 | 55.6 | -0.3 | -2.3 |
July | 53.7 | 55.8 | -2.1 | 55.1 | 56.7 | -1.6 | -3.7 |
August | 52.8 | 55.9 | -3.0 | 55.2 | 55.1 | +0.1 | -2.9 |
Sept | 53.9 | 54.1 | -0.2 | 55.3 | 53.7 | -0.4 | -0.6 |
October | 54.6 | 53.3 | +1.3 | 56.9 | 54.6 | +2.3 | +3.6 |
November | 56.0 | 55.4 | +0.6 | 54.2 | 55.3 | +2.9 | +3.5 |
December | 57.1 | 54.2 | +2.9 | 58.5 | 57.1 | +1.4 | +4.3 |
Jan 2011 | 59.4 | 55.9 | +3.5 | 60.8 | 57.3 | +3.5 | +7.0 |
Feb | 59.7 | 56.8 | +2.9 | 61.4 | 59.0 | +2.4 | +5.3 |
March | 57.3 | 57.2 | +0.1 | 61.2 | 57.5 | +3.7 | +3.8 |
April | 52.8 | 56.7 | -3.9 | 60.4 | 58.0 | +2.4 | -1.5 |
May | 54.6 | 56.0 | -1.4 | 53.5 | 54.6 | -1.1 | -2.5 |
June | 53.3 | 53.7 | -0.4 | 55.3 | 52.0 | +3.3 | +2.9 |
July | 52.7 | 51.6 | +1.1 | 50.9 | 50.4 | +0.5 | +1.6 |
August | 53.3 | 51.5 | +1.8 | 50.6 | 49.0 | +1.6 | +3.4 |
Copyright 2011 Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: PMIs