It was another light week for data, but the flash PMI readings from S&P Global show the counter-play between goods and services – both for volumes and prices – when monetary policy is relatively fixed and fiscal policy is calling the tune. In the US, the flash manufacturing PMI rose to the highest since last June – with a significant spike in prices – as expected tariffs drove early ordering and price adjustments. However, the PMI for services fell below 50, and price hikes in that sector were quite soft, as the uncertainty about future policy, plus weather and fires, injected caution.
top of page
bottom of page
Commentaires