Editor's PiCK
US January flash manufacturing PMI at 51.9…in line with market expectations
Uk Jin
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Summary
- The US flash January manufacturing PMI came in at 51.9, matching Wall Street expectations (51.9).
- It said that a PMI reading above 50 signals an expansion, while a reading below 50 indicates contraction.
- The flash January services PMI (52.5) released the same day fell short of the market forecast (52.9).
The US flash January manufacturing purchasing managers’ index (PMI) came in in line with market expectations.
According to S&P Global on the 23rd (local time), the flash January manufacturing PMI was 51.9, matching Wall Street expectations (51.9).
The PMI uses 50 as the baseline to gauge whether business conditions are expanding or contracting. A reading above 50 signals an expansion, while a reading below 50 indicates contraction.
Meanwhile, the flash January services PMI released the same day printed at 52.5, below the market forecast (52.9).
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