U.S. and euro area manufacturing PMIs

U.S. Minus Ezone Manufacturing PMI Differential Widened in October

November 2, 2020

October’s 4.5-point spread between the U.S. and Euroland manufacturing purchasing manager indices was 2.8 points wider than in September and the greatest differential since last April. Euroland’s IHS-compiled PMI increased 1.1 points, while the ISM-compiled U.S. PMI jumped 3.9 points to a two-year high of 59.3. The monthly averages of the EUR/USD exchange rate in […] More

Wider U.S. Advantage in Factory Activity vis-a-vs Euroland

November 3, 2014

The euro area manufacturing purchasing managers index edged 0.3 of a point higher to 50.6 in October, but the U.S. PMI jumped 2.4 points to 59.0.  The differential between these measures of factory-sector operating conditions, which had declined 2.0 points in September, more than reversed that move to reach a new multi-year high of 8.4 […] More

U.S.-Euroland Manufacturing PMIs Started to Converge Last Month

October 1, 2014

A lot of manufacturing products get traded, so manufacturing is much more sensitive to shifting exchange rates than other sectors of the economy.  The dollar rose 7.0% between its average value in April and that posted in September.  Time will tell if a 2.0 point narrowing of the manufacturing U.S.-minus-Ezone purchasing managers index differential last […] More