Business activity index 59.9 vs 53.3 priorEmployment 48.1 vs 50.2 prior (lowest since June)New orders 59.4 vs 53.0 prior (highest since Feb 2023)Prices paid 59.4 vs 57.3 prior (highest since Jan)Supplier deliveries 52.1 vs 49.6 priorInventories 58.1 vs 52.9 priorBacklog of orders 48.3 vs 43.7 priorNew export orders 56.7 vs 50.9 priorImports 52.7 vs 50.3 priorInventory sentiment 54.0 vs 54.9 prior
This is a very strong report and the best since Feb 2023. The caveat is on the jobs side, with the decline pointing to downside risks in tomorrow’s non-farm payrolls report.
That said, the post-pandemic track record of this indicator is poor.
This article was written by Adam Button at www.forexlive.com.
