US: Flash Markit Manufacturing PMI rises to 59.7 in April versus 58.2 expected

Manufacturing PMI was a little stronger than expected, but Services PMI was much weaker than expected.
The Dollar Index (DXY) did not react to the latest PMI data release.

Joel Frank Independent Analyst

IHS Markit's headline Manufacturing PMI rose to 59.7 in April from 58.8 in March, above expectations for a slight decline to 58.2, according to a flash estimate released on Friday.

Conversely, the headline Services PMI, fell to 54.7 from 58.0, much worse than expectations for it to remain unchanged at 58.0 in April. That dragged the Composite PMI down to 55.1 in April from 57.7 in March, larger than the expected drop to 57.0.

Market Reaction

The Dollar Index (DXY) did not react to the latest PMI data release.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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