Labour shortages, delays, disruptions in latest ISM PMI report

01 June 2021

 

Summary: ISM purchasing managers index (PMI) slightly up; above consensus expectation; US firms struggling with labour shortages, shipping delays, other disruptions; implies US economy still growing at rapid pace.   US purchasing managers' index (PMI) readings reached a cyclical peak in September 2017.  They then started a downtrend which ended in March 2020 with a contraction in US manufacturing which lasted until June 2020. Subsequent month’s readings implied growth had...

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