Details of the January 2017 US Markit manufacturing PMI flash report 24 January 2017
Prior 54.3
New orders 57.3 vs 55.8 prior
Output 56.7 vs 55.1 prior
The good numbers we saw in Dec look set to continue into the new year.
Employment just softened a touch in Jan but input prices rose for the second month on the trot, and at the strongest in nearly 3 years. That pushed selling prices up for the fourth month running but at a more moderate pace.
Says Chris Williamson at Markit;
"US manufacturers are seeing a bumper start to 2017, with production surging higher in January on the back of rising inflows of new orders.
New work is growing at the fastest rate for over two years, thanks mainly to rising demand from customers in the home market. Export growth remains subdued, stymied by the strong dollar.
The survey results suggest that faster manufacturing growth and inventory rebuilding should help boost GDP in the first quarter if current trends persist in coming months. Rising factory employment should also help improve consumer morale and spending.
However, with such strong growth being signalled and price pressures rising, speculation around the next Fed rate hike will intensify."
US Markit manufacturing PMI
