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Markit: US manufacturing PMI at 8-month low in May

by ChemOrbis Editorial Team -
  • 06/06/2017 (11:20)
According to the data from IHS Markit, the US manufacturing PMI was at a reading of 52.7 in May after a reading of 52.8 in April, which indicated the slowest improvement in business conditions since September 2016. The slower growth was due to weaker new business growth as well as a decline in job creation.

The data revealed that a slowdown in new business growth and cautious inventory policies caused the production requirements to slow. As a result, finished goods were stocked at a slower pace than recorded in January.

The data also showed an increase in new order levels in May. However, this increase was the weakest of 9 months due to a decrease in demand. New work from abroad was also reported to be slower as reflected in weak export sales in May.
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