In January, the U.S. S&P Global Manufacturing and Services PMI both expanded, but slightly below expectations
In January, the U.S. S&P Global Manufacturing and Services PMIs both expanded, but were below market expectations. The preliminary Manufacturing PMI was 51.9, the preliminary Services PMI was 52.5, and the composite PMI was 52.8. Chief Economist Chris Williamson pointed out that the growth rate of new business is sluggish, and first-quarter growth may be disappointing, with employment growth also appearing weak. Market risk warning, investment should be cautious
In January, the S&P Global Manufacturing PMI for the United States was slightly higher than in December, while the Services PMI remained unchanged from December, although both were slightly below expectations.
Specific data shows:
- The preliminary value of the S&P Global Manufacturing PMI for the United States in January was 51.9, with an expectation of 52 and a previous value of 51.8. The employment sub-index preliminary value fell to 51.1, hitting a new low since July of last year, but it has still expanded for six consecutive months.
- The preliminary value of the S&P Global Services PMI for the United States in January was 52.5, with an expectation of 52.9 and a previous value of 52.5.
- The preliminary value of the S&P Global Composite PMI for the United States in January was 52.8, with an expectation of 53 and a previous value of 52.7.
Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, stated:
The new business growth rates in both the manufacturing and services sectors in the United States are at worryingly low levels, further indicating that growth in the first quarter may be disappointing. Meanwhile, job growth has been disappointing, with the payroll numbers reported in January nearly stagnating again, as businesses are hesitant to add more employees in an environment filled with uncertainty, weak demand, and high costs.
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