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Fastest Increase In Mfg Selling Prices Since Apr’23 – S&P Global

US DATA
  • The S&P Global US manufacturing PMI was surprisingly revised up to 50.7 in January (flash & cons 50.3) for a larger increase from the 47.9 in December.
  • Some notable excerpts from the S&P Global press release (see here): “The opening month of 2024 saw an improvement in the health of the US manufacturing sector for the first time since April 2023, […]. Although only marginal, overall growth was supported by a return to expansion in new orders and a slower contraction in output. Production was reportedly hampered, however, by a renewed decline in supplier performance and longer input deliveries.”
  • Weak external demand: "Improved demand conditions were domestically focused, as new export orders fell for the nineteenth time in the last 20 months. Europe and Canada were identified by panellists as key export markets with a weakened sales environment."
  • Stronger cost pressures feeding through: “Greater transportation costs pushed input prices higher on the month, with cost inflation hitting a nine-month high. In response, firms hiked their selling prices at the fastest rate since April 2023.”
Energy BulletsCommodities
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