PMIs paint a positive picture with the US leading the way

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“Flash PMIs for the advanced economy for April showed a positive outlook, although recoveries in the US and UK apparently far outpaced those in the euro zone and Japan as restrictions were relaxed in the first two. economies, “he said Gabriella Dickens, Global Economist in Capital Economics.

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“Flash PMI estimates suggest that the DM composite PMI rose from 55.9 in March to more than a 14-year high of 57.5 in April. The rise was across the board, with increases in all four major advanced economies. As restrictions started in the UK and the US, it was no surprise that the biggest rises occurred there. The lower rise in the Eurozone composite PMI was more difficult to explain as the restrictions tightened at the end of March. “

“General industrial PMIs were driven by longer lead times from suppliers as supply continued to struggle to keep up with demand. Those shortages are putting upward pressure on prices. Market averages developed entry price indices and flash composite PMIs rose to all-time highs this month. “

“You have to keep in mind, however, that there have been marked differences in the extent to which higher input prices are being transferred to product prices, particularly in the service sector. While the price index of US service output is extremely high, the eurozone equivalent is just barely in line with its 10-year average. “

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