ISM PMI up in April; still in contraction territory

01 May 2023

 

Summary: ISM PMI up in April, above expectations; ISM: reading reflects companies continuing to manage outputs to better match demand; US Treasury yields up considerably; expectations of Fed rate rise firms; NAB: does not allay concerns about the inflation outlook ; ISM: reading corresponds to 0.6% US GDP contraction annualised. The Institute of Supply Management (ISM) manufacturing Purchasing Managers Index (PMI) reached a cyclical peak in September 2017. It then...

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