Non-Manufacturing PMIs: U.S. and Ezone Both Improve

Non-Manufacturing PMIs: U.S. and Ezone Both Improve

March 3, 2017

The non-manufacturing U.S. PMI rose 1.1 points to a 16-month high of 57.6, and Euroland’s services purchasing managers index 1.8 points to a 69-month high of 55.5. The sum of these spreads and the manufacturing PMI differential rose 0.8 points to 4.4, giving the U.S. its widest combined advantage since the middle of 2015.

PMIs U.S. Ezone U.S. Ezone Sum of
NonMfg Services Spread Mf’g Mf’g Spread Spreads
Jan 2012 56.8 50.4 +6.4 54.1 48.8 +5.3 +10.9
Feb 56.1 48.8 +7.3 51.9 49.0 +2.9 +10.2
March 55.0 49.2 +5.8 53.3 47.7 +5.6 +11.4
April 53.7 46.9 +6.8 54.1 45.9 +8.2 +15.0
May 54.1 46.7 +7.4 52.5 45.1 +7.4 +14.8
June 52.7 47.1 +5.6 50.2 45.1 +5.1 +10.7
July 52.9 47.9 +5.0 50.5 44.0 +6.5 +11.5
August 54.3 47.2 +7.1 50.7 45.1 +5.6 +12.7
Sept 55.2 46.1 +9.1 51.6 46.1 +5.5 +14.6
October 54.8 46.0 +8.8 51.7 45.4 +6.3 +15.1
November 54.8 46.7 +8.1 49.9 46.2 +3.7 +11.8
December 55.7 47.8 +7.9 50.2 46.1 +4.1 +12.0
Jan 2013 55.2 48.6 +6.6 53.1 47.9 +5.2 +11.8
February 54.8 47.9 +8.1 53.1 47.9 +5.2 +13.3
March 54.5 46.4 +8.1 51.5 46.8 +4.7 +12.8
April 53.8 47.0 +6.8 50.0 46.7 +3.3 +10.1
May 54.0 47.2 +6.8 50.0 48.3 +1.7 +8.5
June 53.4 48.3 +5.1 52.5 48.8 +3.7 +8.8
July 55.9 49.8 +6.1 54.9 50.3 +4.6 +10.7
August 57.9 50.7 +7.2 56.3 51.4 +4.9 +12.1
Sept 54.5 52.2 +2.3 56.0 51.1 +4.9 +7.2
October 55.1 51.6 +3.5 56.6 51.3 +5.3 +8.8
November 54.1 51.2 +2.9 57.0 51.6 +5.4 +8.3
December 53.0 51.0 +2.0 56.5 52.7 +3.8 +5.8
Jan 2014 54.0 51.6 +2.4 51.3 54.0 -2.7 -0.3
February 52.5 52.6 -0.1 54.3 53.2 +1.1 +1.0
March 53.7 52.1 +1.6 54.4 53.0 +1.4 +3.0
April 55.3 53.1 +2.2 55.3 53.4 +1.9 +4.1
May 56.1 53.2 +2.9 55.6 52.2 +3.4 +6.3
June 56.3 52.8 +3.5 55.7 51.8 +3.9 +7.4
July 57.9 54.2 +3.7 56.4 51.8 +4.6 +8.3
August 58.6 53.1 +5.5 58.1 50.7 +7.4 +12.9
Sept 58.1 52.4 +5.7 56.1 50.3 +5.8 +11.5
October 56.9 52.1 +4.8 57.9 50.6 +7.3 +12.1
November 58.8 51.1 +7.7 57.6 50.1 +7.5 +15.2
December 56.5 51.6 +4.9 55.1 50.6 +4.5 +9.4
Jan 2015 56.7 52.7 +4.0 53.5 51.0 +2.5 +6.5
February 57.1 53.7 +4.4 52.3 51.0 +1.3 +5.7
March 56.9 54.2 +2.7 52.3 52.2 +0.1 +2.8
April 57.5 54.1 +3.4 51.6 52.0 -0.4 +3.0
May 55.9 53.8 +2.1 53.1 52.2 +0.9 +3.0
June 56.2 54.4 +1.8 53.1 53.1 0.0 +1.8
July 59.6 54.0 +5.6 51.9 52.4 -0.5 +5.1
August

Sept

October

58.3

56.7

58.3

54.4

53.7

54.1

+3.9

+3.0

+4.2

51.0

50.0

49.4

52.3

52.0

52.3

-1.3

-2.0

-2.9

+2.6

+1.0

+1.3

November

December

Jan 2016

February

March

April

May

June

July

August

September

October

November

December

Jan 2017

February

56.6

55.8

53.5

54.3

54.9

55.7

53.6

56.1

54.9

51.7

56.6

54.6

56.2

56.6

56.5

57.6

54.2

54.2

53.6

53.3

53.1

53.1

53.3

52.8

52.9

52.8

52.2

52.8

53.9

54.4

53.7

55.5

 

+1.7

+1.6

-0.1

+1.0

+1.8

+2.6

+0.3

+3.3

+2.0

-1.1

+4.4

+1.8

+2.3

+2.2

+2.8

+2.1

48.4

48.0

48.2

49.7

51.7

50.7

51.0

52.8

52.8

49.4

51.7

52.0

53.5

54.5

56.0

57.7

52.8

53.2

52.3

51.2

51.6

51.7

51.5

52.8

52.0

51.7

52.6

53.5

53.7

54.9

55.2

55.4

-4.4

-5.2

-4.1

-1.5

+0.1

-1.0

-0.5

+0.0

+0.8

-2.3

-0.9

-1.5

-0.2

-0.4

+0.8

+2.3

-2.7

-3.6

-4.2

-1.4

+1.5

+1.6

-0.9

+3.7

+3.4

-3.7

+4.0

+0.5

+3.1

+1.8

+3.6

+4.4

Copyright 2017, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

Tags: U.S. and Ezone service-sector PMIs




ShareThis

Both comments and pings are currently closed.