2012 Economic Calendar
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PMI Manufacturing Index Flash
Released On 6/21/2012 8:58:00 AM For June, 2012
PriorConsensusConsensus RangeActual
Level53.9 53.8 53.0  to 54.0 52.9 

Highlights
Hard government data on the manufacturing sector have been mostly negative for the last several months which stands in contrast to healthy strength in many anecdotal reports specifically the national indexes from the ISM and the new entry from Markit Economics. The flash reading for June from Markit Economics, safely above 50 at 52.9, signals a continuation of meaningful monthly growth in overall activity. The pace of activity may be a bit slower compared to the year-to-date average of 54.5, but individual readings on output and on new orders show very little monthly change while employment growth, though slowing slightly, is still a big positive. One area of concern is the export side with new export orders falling nearly 3 points to 48.9, a sub-50 reading that indicates monthly contraction and offers new evidence that trouble in Europe and slowing in China are beginning to be felt over here.

Backlog orders are contracting slightly in the month, which is also a negative of course, while price pressures are easing reflecting lower oil prices but also consistent with slowing activity in general. Inventories of finished goods are steady while manufacturers do appear to bringing down inventories of raw materials.

Market Consensus before announcement
The PMI manufacturing flash index for May slipped 2.1 points to 53.9, a level over 50 to indicate monthly growth but below April to indicate a slower rate of growth. But readings were nevertheless healthy and include moderate growth for new orders, for output and for employment. The final reading for May for the overall index came in at 54.0.

Definition
Purchasing Managers' Manufacturing Index (PMIs) is based on monthly questionnaire surveys of selected companies which provide an advance indication of what is really happening in the private sector economy by tracking changes in variables such as output, new orders, stock levels, employment and prices across the manufacturing sectors. The flash index, usually released about a week before the final, gives a preliminary reading of conditions for the current month.  Why Investors Care
 

2012 Release Schedule
Released On: 4/235/246/217/248/239/2010/2411/2112/14
Release For: AprMayJunJulAugSepOctNovDec
 


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