May 2021 ISM and Markit Services Surveys Improve And Remain Well Into Expansion
The ISM improved and remained in expansion whilst the Markit PMI improved and now is at record highs.
Analyst Opinion of the ISM and Markit Services Survey
With the economy reopening, it comes as no surprise that both of these indices are well into expansion.
From Econoday:
Stronger client demand spurs sharper output expansion
Cost burdens rise at quickest pace on record
Further steep increase in employment despite hiring
May PMI™ data indicated the fastest rise in business activity since data collection for the series began in October 2009. The unprecedented expansion in output was supported by a marked increase in new business, in turn buoyed by the quickest rise in new export orders for nine months. Greater business requirements resulted in a further sharp rise in employment. That said, the pace of job creation softened as firms reported difficulties filling vacancies. Strain on capacity was
Economic Growth To Continue Through 2021
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Manufacturing is Expected to Expand in 2021; Revenue to Increase 7.2%; Capital Expenditures to Increase 8.7%; Capacity Utilization Currently at 88.3%; Services is Expected to Expand in 2021; Revenue to Increase 5.4%; Capital Expenditures to Increase 5.7%; Capacity Utilization Currently at 89.4%
TEMPE, Ariz., May 18, 2021 /PRNewswire/
The economic recovery in the U.S. will continue for the rest of 2021, say the nation s purchasing and supply executives in the
Spring 2021 Semiannual Economic Forecast. Expectations for the remainder for 2021 have strengthened somewhat, compared to December 2020, as there is hope that the corner has been turned on the coronavirus (COVID-19) pandemic; both manufacturing and services sectors are signaling expansion.
®.
The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management
® (ISM
®) Services Business Survey Committee: The Services PMI
® registered 62.7 percent, which is 1 percentage point lower than last month s all-time high of 63.7 percent. The April reading indicates the 11th straight month of growth for the services sector, which has expanded for all but two of the last 135 months. The Supplier Deliveries Index registered 66.1 percent, up 5.1 percentage points from March s reading of 61 percent. (Supplier Deliveries is the only ISM
®
Report On Business
® index that is inversed; a reading of above 50 percent indicates slower deliveries, which is typical as the economy improves and customer demand increases.) The Prices Index figure of 76.8 percent is 2.8 percentage points higher than the March reading of 74 percent, indicating that prices increased in April, and at a faster rate. This is the index s highest readi
April 2021 ISM and Markit Services Surveys Remain Well Into Expansion
The ISM declined but remained in expansion whilst the Markit PMI improved and advanced further into expansion.
Analyst Opinion of the ISM and Markit Services Survey
With the economy reopening, it comes as no surprise that both of these indices are well into expansion.
From Econoday:
Most marked upturns in output and new orders on record
Employment growth accelerates
Cost pressures strongest on record
April PMITM data indicated a marked and unprecedented expansion in business activity across the U.S. service sector. Supporting the upturn in output was the fastest increase in new business on record. Pressure on capacity remained evident, as backlogs of work accumulated at a faster pace and employment rose at the second-sharpest rate on record. Some concerns regarding the sustainability of new order inflows weighed slightly on business confidence, although optimism remained relatively strong. Meanwhile, input
March 2021 ISM and Markit Services Surveys Show Improvement
The ISM significantly improved and remained in expansion whilst the Markit PMI improved and advanced further into expansion.
Analyst Opinion of the ISM and Markit Services Survey
With the economy reopening, it comes as no surprise that both of these indices improved.
From Econoday:
Upturns in output and new orders accelerate to strong rates
Price gauges hit highest on record amid supply chain disruptions
Business optimism improves since February
March PMITM data indicated a substantial increase in business activity across the U.S. service sector, and one that was the steepest for almost seven years. Contributing to the marked upturn in output was the fastest expansion in new business for six years, reflecting strengthening client demand. Firms also registered a renewed rise in new export orders. Meanwhile, rates of input cost and output charge inflation reached fresh record peaks, as firms sought to pass on steep ris