April 2021 Philly Fed Manufacturing Survey Index Improvement Continues
Analyst Opinion of the Philly Fed Business Outlook Survey
Overall, this report was better than last month but key elements improvement was mixed
This is a very noisy index which readers should be reminded is sentiment-based. The Philly Fed historically is one of the more negative of all the Fed manufacturing surveys but has been more positive than the others recently.
The index moved from 44.5 to 50.2. Positive numbers indicate market expansion, negative numbers indicate contraction. The market expected (from Econoday) 30.0 to 47.6 (consensus +43.0).
Manufacturing conditions in the region continued to improve this month, according to firms responding to the April
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
March 2021 Empire State Manufacturing Index Improves econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.
January 2021 ISM and Markit Services Surveys Improved
Analyst Opinion of the ISM and Markit Services Survey
I have a hard time believing services are in expansion with many restaurants, bars, and gyms running nowhere near full potential - and parts of the country have returned to lockdown.
From Econoday:
Output and new order growth regain momentum
Fastest increase in cost burdens on record
Slowest rise in employment since July 2020
January PMITM data signalled a sharper expansion in business activity across the U.S. service sector. Excluding November s recent high, the latest upturn was the fastest since March 2015, amid a stronger rise in new business. Foreign client demand also picked up, as new export orders returned to growth. Despite a notable improvement in business confidence, the rate of job creation eased as pressure on capacity dwindled and concerns regarding the short-term outlook remained. Meanwhile, cost burdens soared once again, with the rate of input price infl