(Tiper Stock Exchange) – US manufacturing and services activity improves more than expected in April 2023. The flash estimate on the index Manufacturing PMI elaborated by S&P Global it indicates a level of 50.4 points, up from 49.2 points in March and above the 49 points expected by analysts. The indicator therefore moves above the key threshold of 50 points, which acts as a watershed between expansion and contraction.
The tertiary sector index also increased, again in April. The flash estimate on the Services PMIpublished by S&P Global, indicates a value of 53.7 points, which compares with the 52.6 in March and against the 51.5 of the consensus.
The Composite PMI thus it stands at 53.5 points, from the previous 52.3 and compared to the 52.8 estimated by the market. This is the fastest recovery in economic activity since May 2022.
“The latest survey adds to signals that commercial activity regained momentum of growth after the contraction in the seven months to January – commented Chris Williamson, Chief Business Economist of S&P Global Market Intelligence – The latest reading is indicative of GDP growth at an annualized rate of just over 2%”.
“Growth is also reassuring on a broad basis, led by services thanks to one shifting post-pandemic spending away from goodsalthough producers of goods are also signaling signs of a recovery in demand,” he added.
(Photo: Photo by Nik Shuliahin on Unsplash )