IHS Markit released the initial value of the Purchasing Managers Index (PMI) for August in the United States on Monday (23rd). Affected by the shortage of raw materials, the spread of the virus and the limited production capacity, the expansion of US economic activity has shown signs of slowing, especially in the service industry. , The comprehensive PMI fell to 55.4 in August, an 8-month low.
August Markit PMI report:
- The initial value of the comprehensive PMI was reported at 55.4, and the previous value was reported at 59.9
- The initial value of the service industry PMI was reported at 55.2, and the previous value was reported at 59.9
- The initial value of the manufacturing PMI was reported at 61.2 and the previous value at 63.4
- The initial value of manufacturing output was reported at 56.3, and the previous value was reported at 59.7
The manufacturing PMI fell to 61.2 in August, a 4-month low, and the service PMI fell to 55.2, a 8-month low. Although it is still in the expansion range, the service industry PMI has been 3 consecutive since reaching a record high in May this year. Month down.
In terms of industries, although the growth of new orders in the manufacturing industry has slowed slightly, customer demand is still strong. However, due to the supply chain interruption and continuous fermentation, the delivery time of manufacturing suppliers has been the longest since 2007.
On the other hand, the increase in the number of confirmed cases of Covid-19 continues to drag down the growth of new services in the service industry. Uncertainty about the epidemic has also suppressed demand from foreign customers. Export orders for the service industry fell for the first time since February.
At the same time, severe supply chain disruptions have led to an increase in the cost burden of enterprises. Input price inflation has increased for the second fastest time in history. Enterprises are also trying to pass on higher price pressures to consumers and further increase sales prices.
Chris Williamson, chief business economist at IHS Markit, said that in addition to supply chain delays that have caused the delivery index to reach new highs, companies are also increasingly dissatisfied with human recruitment. Employment growth was the lowest since July last year.
He continued that as material and labor shortages continue to push up cost pressures, prices may continue to rise, but if demand cools as the number of confirmed cases increases, price pressures may ease slightly.
