- Lowest since December 2022
- Before it was 51.4
Key details:
- Employment 45.9 compared to 48.5 previously
- New orders 52.2 compared to 54.4 last month
- Prices paid 59.2 compared to 53.4 last month
Other components:
- Stocks 53.7 vs. 45.6 last month
- Supplier deliveries 48.5 compared to 45.4 last month
- Order backlog 51.1 compared to 44.8 last month
- New export orders 47.9 compared to 52.7 last month.
- Imports 53.6 compared to 52.4 last month
- Stock sentiment 62.9 vs. 55.7 last month
The previous report noted a sharp drop in prices paid. So I don’t view the rebound as a major shock because it’s back to where it was most of last year. Additionally, inflation is a lagging indicator while demand is a leading indicator. This is the lowest ISM level since December 2022 and the third consecutive month of falling index.
Comments in the report:
- “Consistent improvement towards lower food and beverage costs; however, bird flu could affect prices in the future. We are already seeing an increase in the number of chickens and eggs. In the technological field, prices do not decrease but remain stable. (Accommodation & Catering)
- “Film production is recovering, which is expected to increase theater volume in the second half of 2024.” (Arts, Entertainment & Leisure)
- “While it varies across regions of the world, we are starting to see a slowdown in the market in terms of price stability and delivery times. The fact that bidders are providing reasonable bid validities indicates that much of the supply chain is reaching a balance between supply and demand. Electrical equipment remains the exception. (Construction)
- “Inflation increases the unit cost of our products and services compared to last year’s spending.” (Public administration)
- “We continue to face inflationary pressures from rising labor and service costs, but we are working hard to find utilization savings to offset where possible.” (Health care and social assistance)
- “Business remains sluggish. ” (Information)
- “We continue to face supply chain challenges with increasing costs of raw materials, particularly chemicals and their containers, as well as higher freight transportation costs in the United States and abroad. stranger. A shortage of containers has increased costs and slowed the supply chain. (Business Management & Support Services)
- “Consistent demand has been favorable during this traditionally slower season. Prices are stable and the supply chain is strong. Recruitment and retention of employees has been a challenge in some areas; however, the situation is not critical. (Retail business)
- “Labor in construction, administration and technical/scientific fields is in high demand. Long lead times for brass plumbing fittings and electrical equipment and components. (Utilities)
- “The overall market has definitely slowed down. Our activity increases from year to year and month to month; Based on our advanced analytics, we know that growth comes from new customers. This means that we are taking market share from our competitors. (Wholesale)
This article was written by Adam Button at www.forexlive.com.
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