The IHS Markit US Manufacturing PMI was revised higher to 50.3 in August 2019 from a preliminary estimate of 49.9 and compared to July's final 50.4. Still, the latest reading pointed to the weakest pace of expansion in the manufacturing sector since September 2009, as new export orders fell at the quickest pace since August 2009, linked by many firms to trade wars and tariffs. Also, business confidence dropped to a new series low. Manufacturing PMI in the United States is reported by Markit Economics.

Manufacturing PMI in the United States is expected to be 51.10 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in the United States to stand at 50.60 in 12 months time. In the long-term, the United States Manufacturing PMI is projected to trend around 50.20 in 2020, according to our econometric models.

United States Manufacturing PMI
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US Manufacturing PMI Revised Higher: Markit

The IHS Markit US Manufacturing PMI was revised higher to 50.3 in August 2019 from a preliminary estimate of 49.9 and compared to July's final 50.4. Still, the latest reading pointed to the weakest pace of expansion in the manufacturing sector since September 2009.

The rate of production growth was among the slowest seen for over three years in August, as lacklustre client demand led increasing numbers of firms to curb output. Although the pace of increase picked up slightly, some firms attributed the rise to efforts to clear backlogs of work rather than reflecting any new inflows of orders.

Concurrently, the pace of the upturn in new business eased to a fractional rate that was the slowest for three months and among the weakest seen over the past ten years.

Deteriorating demand conditions, especially across the automotive sector, were linked to subdued client demand. External demand also weighed on new business growth, as new export orders fell at the quickest pace since August 2009, linked by many firms to trade wars and tariffs.

In line with the near-stalling of new orders, output expectations dipped to a new series low in August. Although firms were largely optimitic, many stated that uncertainty and fears of a global economic downturn weighed on confidence.

At the same time, firms remained hesitant towards hiring in August, with employment levels broadly unchanged during the month. That said, some firms stated that little change in workforce numbers was in part due to difficulties finding suitable candidates.

On the price front, historically muted rises in input prices and output charges were once again recorded by goodsproducing firms in August. A reduction in demand for inputs reportedly limited suppliers’ pricing power, and pressure to remain competitive meant that firms largely refrained from sharp rises in output charges.

Weak client demand also led to a further fall in input buying among manufacturing firms and both pre- and postproduction stocks were depleted at modest rates.


Markit Economics | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/3/2019 1:51:53 PM



United States Business Last Previous Highest Lowest Unit
Business Confidence 49.10 51.20 77.50 29.40 Index Points [+]
Manufacturing PMI 50.30 50.40 57.90 50.30 [+]
Services PMI 50.70 53.00 61.00 49.30 Index Points [+]
Non Manufacturing PMI 56.40 53.70 62.00 37.80 [+]
Composite Pmi 50.70 52.60 61.00 50.00 Index Points [+]
Industrial Production 0.40 0.50 62.00 -33.70 percent [+]
Industrial Production Mom 0.60 -0.10 16.60 -10.40 percent [+]
Manufacturing Production -0.40 -0.50 67.90 -39.40 percent [+]
Capacity Utilization 77.88 77.52 89.39 66.69 percent [+]
Durable Goods Orders 2.10 1.80 23.20 -18.40 percent [+]
Durable Goods Orders Ex Defense 1.40 3.10 25.50 -19.20 percent [+]
Durable Goods Orders Ex Transportation -0.40 0.80 6.30 -10.20 percent [+]
Factory Orders Ex Transportation 0.30 -0.10 4.60 -7.00 percent [+]
New Orders 500278.00 493817.00 565232.00 223500.00 USD Million [+]
Factory Orders 1.40 0.50 10.40 -9.70 percent [+]
Business Inventories 0.40 0.00 1.30 -2.00 percent [+]
Changes in Inventories 69.03 116.00 173.21 -245.13 USD Billion [+]
Wholesale Inventories 0.20 -0.10 2.10 -2.00 percent [+]
Bankruptcies 22483.00 22157.00 82446.00 19695.00 Companies [+]
Corporate Profits 1882.97 1791.42 1882.97 14.67 USD Billion [+]
NFIB Business Optimism Index 103.10 104.70 108.80 80.10 Index Points [+]
NY Empire State Manufacturing Index 2.00 4.80 39.00 -34.40 Index Points [+]
Philadelphia Fed Manufacturing Index 12.00 16.80 58.50 -57.90 Index Points [+]
Richmond Fed Manufacturing Index 1.00 -12.00 27.00 -44.00 Index Points [+]
Ism New York Index 50.30 43.50 88.80 23.40 percent [+]
Chicago Fed National Activity Index -0.36 0.03 2.79 -5.28 [+]
Dallas Fed Manufacturing Index 2.70 -6.30 47.60 -59.90 Index Points [+]
Chicago Pmi 50.40 44.40 78.60 21.20 Index Points [+]
Car Production 2.67 2.62 9.92 1.29 Million Units [+]
Car Registrations 417.60 466.07 1149.00 331.50 Thousand [+]
Total Vehicle Sales 16.90 16.80 21.77 9.05 Million [+]
Crude Oil Stocks Change 1.06 -6.91 14.42 -15.22 BBL/1Million [+]
Natural Gas Stocks Change 84.00 78.00 147.00 -359.00 Billion cf [+]
Gasoline Stocks Change 781.00 -682.00 11456.00 -8428.00 Thousand Barrels [+]
Leading Economic Index 128.31 128.29 128.31 46.91 Index Points [+]
Internet Speed 18747.58 17235.62 18747.58 3609.31 KBps [+]
IP Addresses 128949703.00 127873899.00 146874246.00 89399946.00 IP [+]
API Crude Oil Stock Change 0.59 -7.20 14.30 -12.40 BBL/1Million [+]
Crude Oil Rigs 719.00 733.00 1609.00 98.00 [+]
Corruption Index 71.00 75.00 78.00 71.00 Points [+]
Corruption Rank 22.00 16.00 24.00 14.00 [+]
Competitiveness Index 85.64 84.84 85.64 5.42 Points [+]
Competitiveness Rank 1.00 1.00 7.00 1.00 [+]
Ease of Doing Business 8.00 6.00 8.00 4.00 [+]
Steel Production 7514.00 7276.00 11951.00 3799.00 Thousand Tonnes [+]
Kansas Fed Manufacturing Index -2.00 -6.00 37.00 -32.00 Index Points [+]
Mining Production 5.10 5.90 108.20 -28.80 percent [+]


United States Manufacturing PMI

In the United States, the Markit Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 600 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This page provides the latest reported value for - United States Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Manufacturing PMI - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
50.30 50.40 57.90 50.30 2012 - 2019 Monthly
SA




Country Last Previous
Australia 53.10 Aug/19
Brazil 52.50 Aug/19
Canada 49.10 Aug/19
China 50.40 Aug/19
Euro Area 47.00 Aug/19
France 51.10 Aug/19
Germany 43.50 Aug/19
India 51.40 Aug/19
Indonesia 49.00 Aug/19
Italy 48.70 Aug/19
Japan 49.30 Aug/19
Mexico 49.00 Aug/19
Netherlands 51.60 Aug/19
Russia 49.10 Aug/19
Saudi Arabia 57.00 Aug/19
Singapore 49.90 Aug/19
South Africa 45.70 Aug/19
South Korea 49.00 Aug/19
Spain 48.80 Aug/19
Switzerland 47.20 Aug/19
Turkey 48.00 Aug/19
United Kingdom 47.40 Aug/19
United States 50.30 Aug/19


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