COMPOSITE PMI FALLS TO 4 MONTH LOW

Key Points:

  • The Composite Purchasing Managers Index (PMI) captures business conditions in the manufacturing and service sectors.
  • The Composite PMI decreased to 59.7 in July from 63.7 in June, a 4 month low.
  • Manufacturing PMI increased to 63.1 in July from 62.1 in June.
  • Services PMI decreased to 59.8 in July from 64.6 in June.
  • Consensus among economists was a gain of 0.2, but in reality the Services PMI fell 4.8 over the month.
  • The Right Facts will continue to monitor manufacturing PMI.
Source