In August, US manufacturing activity contracted 2.1 points from July, the largest contraction in nearly three years. According to the Institute of Supply Management (ISM) Purchasing Manufacturing Index (PMI) - commonly referred to as the ISM manufacturing index - fell to 49.1, making the US a late comer to a growing club of large economies, such as China, the Eurozone, Japan, and the United Kingdom, that have likewise reported contracting manufacturing sectors in recent months.
Live data and insights on Coronavirus around the world, including detailed statistics for the US, EU, and China — confirmed and recovered cases, deaths, alternative data on economic activities, customer behavior, supply chains, and more.
The U.S. manufacturing activity has slowed down as ISM purchasing manufacturing index (PMI) registered at 52.1 in May 2019, a decline of .7 points from the previous month. Although the index remained above 50 points thresholds that separates expansion from contraction in the sector, the sector growth has been on downtrend since it touched high of 60.8 in August 2018. The decline in the index has been largely due to slower growth in production, supplier deliveries and inventories index. The Supplier Deliveries Index fell down by 2.6 points from April, while inventory and production...
US manufacturing activity slowed in April, with the ISM purchasing manufacturing index (PMI) registering at 52.8, a decline of 2.5 points from the previous month. Although the index remained above the 50 point threshold that separates expansion from contraction in the sector, the manufacturing sector's growth has been trending downward since its high of 60.8 in August 2018. The decline in the index has been largely due to slower growth in new orders and the falling production index. The new order index fell to 51.7 in April from 57.4 in March, while the production index dropped by...
Which is the world's largest economy, China or the United States? As is usual in the field of economics, “It depends.” It depends on the methods used to estimate the size of an economy and to compare one economy to another. Despite modern discussions on refining the calculation of gross domestic product (GDP), the standard measure of an economy’s size and performance, to be more inclusive of economic factors that have been ignored to date, such as environmental and natural resource depletion, there is no commonly accepted alternative to GDP. There are, however, at least two commonly...
For the first time during the post World War II era, the global economy is expected to shrink due to measures in force worldwide to suppress the coronavirus, according to the IMF World Economic Outlook (WEO) released on April 14, 2020. In this edition of the WEO, the IMF shortened the forecast horizon to 2021 instead of the expected 2025 horizon and limited the number of indicators available in its statistical tables because of the high level of uncertainty in current global economic conditions. In the baseline scenario—which assumes that the pandemic fades in the second half of...
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