US PMI figures drop back, still elevated

01 May 2018

 

US manufacturing activity fell back more than expected in April, although readings are still not far away from peak levels. According to the Institute of Supply Management (ISM) April survey, its Purchasing Managers Index recorded a reading of 57.3, down from March’s reading of 59.3 and less than the 58.5 expected. 60.8 has been the highest reading so far in this cycle. According to ANZ Head of FX Research Daniel...

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