“Price pressures may be easing”; encouraging sign inflation pressures easing in July PMI

01 August 2022

 

Summary: ISM PMI slightly down in July, above expectations; new order rates contracting, supplier deliveries improve, prices soften; sharp fall in price subindex “an encouraging sign”, pressures “may be easing”; latest reading implies 3.1% 12-month growth rate in December. The Institute of Supply Management (ISM) manufacturing Purchasing Managers Index (PMI) reached a cyclical peak in September 2017. It then started a downtrend which ended in March 2020 with a contraction...

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