- Prior month was -26.4
Details:
- New Orders 7.5 vs -34.2 last month
- Shipments -13.0 versus -9.1 last month
- Unfilled orders 4.9 versus -1.1 last month
- Delivery time -9.2 versus -2.6 last month
- Inventories 9.7 versus -0.9 last month
- Prices paid 59.8 versus 51.0 last month
- Prices received 43.6 versus 30.7 last month
- Number of employees 16.5 versus 0.2 last month
- Average workweek 2.0 versus -12.7 last month
This is a strong bounce back as trade uncertainty abated and positive expectations increased. I would expect even more improvement in the next months.
The 6-months forward index jumped from 6.9 to 47.2 and the new orders one from 6.6 to 49.7. This just shows that we could really get a covid-like bullwhip scenario where we see a surge in demand and economic activity after the April’s rout.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
