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Pullback Considered Corrective


EGB Supply For W/C Sep 20, 2021: Upcoming

US DATA: US ISM Manufacturing Weakest in 30-Months
Following last month's rebound to 55.3, US Manufacturing PMI cooled again in
April to 52.8, against expectations of a flat reading. It was the biggest
monthly fall of the year so far, and the softest reading in 30 months.
Sluggishness in the manufacturing sector continued into Q2, following an already
depressed Q1 when PMI averaged 55.4, its weakest reading since Q4 2016. The
April slowdown was led by large declines in New Orders, Employment and
Production. The Supplier Deliveries component registered its first increase in
six months, albeit small. Prices dipped again but remained at neutral levels
following last month's rebound. Inflation has seen a sharp slowdown since last
year, with the prices component down 36.9% on the year and decreasing nine times
in the last 12 months.