January S&P Global US Flash Manufacturing PMI Shows Return to Growth, Services PMI Declines
The January flash reading of manufacturing conditions from S&P Global rose to 50.1 from 49.4 in December, compared with an expected reading of 49.8 in a survey compiled by Bloomberg as of 7:40 am ET, a seven-month high and representing a return to growth.
The gain follows negative readings from the New York and Kansas City Federal Reserve banks and strongly positive reading from Philadelphia Fed.
The index for services conditions fell to 52.8 in January from 56.8 in December, compared with expectations for a smaller decline to 56.5. The index is at a nine-month low but still points to expansion, in contrast to negative readings from the Philadelphia and New York Fed regions.
Source: Bloomberg
