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Monday, April 03, 2017

March 2017 US Markit manufacturing PMI final 53.3 vs 53.5 exp

  • Flash 53.4. Feb 54.2
  • Output 54.3 vs 54.4 flash. Feb 55.6
  • Employment 51.4 vs 51.4 flash. Feb 53.2
Confirming the drop vs Feb and a smidge worse. New orders gained but were at the slowest since last Oct. Prices rose at the fastest since Sep 2014.
Markit's Chris Williamson thinks the Trump effect is deflating.
"The post-election resurgence of the manufacturing sector seen late last year is showing signs of losing steam.
Output growth slowed to a six-month low in March, optimism about the outlook has waned and hiring has slowed accordingly.
While the survey data suggest that the goods producing sector enjoyed a relatively good first quarter on the whole, the loss of momentum seen in February and March bodes ill for the second quarter.
If the activity numbers send a dovish signal to policymakers, the survey's price indices favour the hawks. Inflationary pressures have risen to a two and a half year high, despite the oil price easing during the month." 

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