Surprisingly, The PMI Level For United Kingdom. Much less unemployment claims in the US
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The PMI is based on a monthly survey of supply chain managers across 19 industries and is a leading indicator of overall economic activity. The value and movements in the PMI and its components can provide useful insight to business decision makers, market analysts, and investors.
Nowadays, special attention is also paid to the topic of unemployment and its important indicators. The US economy is one of the largest, and therefore the analysis of employment or its absence is very important
Positive The Germany Manufacturing Purchasing Managers Index
The Germany Manufacturing Purchasing Managers Index (PMI) is significantly lower than a year ago, but has increased compared to last month. In July '22 it reached the level of 49.3 and it was the lowest reading on a yearly basis. The forecast for the month of August was even lower 48.2. The current reading shows a positive / bullish reading of 49.8. Published at 9:55 CET.
The German Manufacturing Purchasing Managers' Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
Source: investing.com
Much Lower Than Forecasted
In Great Britain, despite positive forecasts, the Manufacturing Purchasing Managers' Index (PMI) dropped sharply to 46.0. This is the lowest reading for this economy in a year. According to forecasts, the indicator should reach the level of 51.0. The current low level causes negative sentiment for GBP. Published at 10:30 CET.
Source: investing.com
Analysts in the United States forecast a decline in the index to 52.0 compared to the previous month when the index reached 53.0. The current reading suggests a slight drop in the indicator to 52.8. Published at 16:00 CET.
The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) Report on Business is based on data compiled from monthly replies to questions asked of purchasing and supply executives in over 400 industrial companies. For each of the indicators measured (New Orders, Backlog of Orders, New Export Orders, Imports, Production, Supplier Deliveries, Inventories, Customers Inventories, Employment, and Prices), this report shows the percentage reporting each response, the net difference between the number of responses in the positive economic direction and the negative economic direction and the diffusion index. Responses are raw data and are never changed.
Source: investing.com
Decrease In Jobless Claims
As the collected data show, Initial Jobless Claims is much lower compared to '21. In '22, the highest reading took place at the end of January and reached the level of 290K. Then it dropped significantly. The next highest reading this year came at the end of July (261K). The result for the last weeks aroused positive moods, it is lower than the forecast (253K) and reached the level of 243K. The results show that the mood of US citizens is positive and they do not expect losing their jobs.
Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.
Source: investing.com
U.S. Federal Open Market Committee (FOMC) Member Bostic
At 0:30 CET there was a speech by U.S. Federal Open Market Committee (FOMC) Member. Federal Reserve Bank of Atlanta President Raphael Bostic dropped subtle clues regarding future monetary policy. He will also be speaking today at 21:30 CET.
Source: https://www.investing.com/economic-calendar/
