ISM Manufacturing PMI 1/7/2022

The Index of Support Management (ISM) in the industrial sector determines the activity level of purchasing managers in the industrial sector, and a reading above the 50 level indicates expansion

Reading this indicator depends on purchasing managers identifying the level of some elements in this sector, including employment, production, new orders, resource distribution, and inventories.

The US ISM manufacturing PMI rose unexpectedly to 56.1 in May 2022 from 55.4 in April, beating market expectations of 54.5. Faster increases were seen in new orders (55.1 vs. 53.5), production (54.2 vs. 53.6) and inventory (55.9 vs. 51.6). Also, price pressures eased for a second month (82.2 vs. 84.6) while employment contracted (49.6 vs. 50.9), although companies improved their progress in tackling medium-term labor shortages at all levels of the supply chain. Meanwhile, business sentiment remained strongly optimistic regarding demand, but supply chain and pricing issues remain the biggest concerns.

Expectations for today's statement indicate a level of 54.6

In the event that the issuance was higher than expected, it will positively affect the currency and vice versa

The statement will be issued at 5:00 pm Beirut time