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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
US composite PMI slowed much more quickly than expected in August's flash readings.
- Manufacturing fell to a 4-month low of 61.2 (vs 62.0 expected and 63.4 prior), with Services falling to an 8-month low of 55.2 (vs 59.2 expected and 59.9 prior), leaving the Composite at an 8-month low of 55.4 (vs 59.9 prior).
- The weaker-than-foreseen report is yet another indication that the Delta COVID variant may be having a negative impact on economic sentiment. From the IHS Markit report: "Capacity pressures, material shortages and the spread of the Delta variant reportedly weighed on the output expansion."
- The notable mention of Delta multiple times in the report caught the eye, with other August sentiment indicators (regional Feds, UMichigan consumer survey) likewise disappointing amid fears a COVID resurgence could slow the recovery.
- Apart from that, many of the usual themes in recent months make an appearance: difficulties finding employees, large order backlogs amid supply chain constraints, and higher cost / output inflation.
Source: IHS Markit, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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