2017 Economic Calendar
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PMI Manufacturing Index  
Released On 7/3/2017 9:45:00 AM For Jun, 2017
PriorConsensusConsensus RangeActual
Level52.7 52.2 52.1  to 53.0 52.0 

The most moderate growth of any private report continues to come from the manufacturing purchasing managers index which ends June at a final 52.0, down only 1 tenth from the June flash but down a noticeable 7 tenths from May. Though 52 is safely above breakeven 50, the report describes conditions as "subdued" with cost pressures at a 15-month low and selling prices the weakest of the year.

Employment slowed in the month, orders rose at their slowest pace in 9 months with export demand weak, and output also slowed despite getting a boost from inventory building which posted its strongest increase since January. A positive is confidence in the outlook which rose to its best level since the sentiment surge at the beginning of the year.

The rise in inventories can't be sustained which points to the need for improvement in new orders, at least for this sample. But new orders in other private samples, including the ISM report which follows later this morning, have been very strong and have been in sharp contrast to government data where orders have been mostly soft.

Consensus Outlook
PMI manufacturing moved to its slowest rate in the June flash, to 52.1 which is right at the consensus for the final at 52.2. Both new orders and output were down in the flash offsetting gains in hiring and a build for inventories. Input prices have been easing and selling prices have been weak. Of all the private reports, most of which have been unusually strong, this report best matches the actual pace of government data on the factory sector.

Based on monthly questionnaire surveys of selected companies, the Purchasing Managers' Manufacturing Index (PMI) offers an advance indication on month-to-month activity in the private sector economy by tracking changes in variables such as output, new orders, stock levels, employment and prices across manufacturing industries. The final index for the current month is released roughly a week after the flash.  Why Investors Care

2017 Release Schedule
Released On: 1/32/13/14/35/16/17/38/19/110/211/112/1
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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