The Manufacturing Sector PMI recorded 57.9 in May which is an increase of 16.1 index points compared to April 2017.
This indicates that the manufacturing activities recovered in May 2017, largely attributable to the expansion in Production and New Orders sub-indices, following the seasonal contraction observed for April 2017. Further, all the sub-indices of PMI apart from the Employment sub-index recorded values above the neutral 50.0 threshold.
However, adverse weather conditions experienced from the 25th day of the month slowed down the expected recovery of the operations due to employee absenteeism and lengthening of the suppliers’ delivery time.
Nevertheless, the expectation for activities indicates an improvement for the next three months. The Services Sector PMI recorded 55.3 index points in May from 54.2 index points in April 2017. The moderate acceleration in the Services sector was supported by New Businesses, Business Activity and Employment.
A recovery of Employment was observed in May following the contraction observed in April 2017. Expectations for Activity decelerated in May due to reasons such as adverse weather conditions and pacing out of peak and festive seasons in certain sub-sectors.
Backlogs of Work declined, continuing the trend observed since the survey began.
Prices Charged decelerated in May 2017 with the decline in demand compared to April.
0 comments: