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The American Supplier Management Association (ISM) released the latest data on the Non-Manufacturing Purchasing Managers Index (PMI) on Tuesday (5). The epidemic caused economic activity in the United States to almost stop. Non-manufacturing PMI reported 41.8 in April, as of December 2009 It has fallen into the contraction zone for the first time since then, and also reached its lowest level since that year.
Non-Manufacturing PMI Breakdown Index for the US April ISM USA:
- The Commercial Activity Production Index reported 26, with a previous value of 48, the lowest level since the record in 1997
- The new order index reported 32.9, with a previous value of 52.9, the first contraction in nearly 11 years.
- The employment index reported 30, formerly 47, the lowest level since the record in 1997
- The supplier delivery rate was reported at 78.3, with a previous value of 62.1, the highest level since the record in 1997
- Inventory Index Reported 46.9, Previous Value 41.5
- Reported raw material price index 55.1, previous value 50
- Index of pending orders reported 47.7, previous value 55
- New reported export order index 36.3, old value 45.9
- The raw materials import index reported 49.3, previous value 40.2
- The stock market prosperity index reported 62.6, previous value 47.8
In April, both the business activity production index and the employment index reached their lowest levels since the record. Since March 21, a total of 30.3 million people in the United States have applied for unemployment assistance. The decline in the employment index is in line with economists’ expectations of the unemployment rate in April.
In addition, the supplier delivery rate has also reached the highest level since registration, generally related to the extension of supplier delivery time and strong economic activity and demand. However, in the current situation, the extension of the supplier’s delivery speed shows that, under the interference of the epidemic, the companies The closure caused a shortage of supply.
ISM President Anthony Nieves said the sharp decline in data in April was mainly affected by supply problems caused by the epidemic, saying that, according to the past NMI and general economic relations, the PMI Non-manufacturing in April corresponding to this year’s gross domestic product (GDP) will fall 2% to 3%.
Nieves said: “Industry respondents are concerned about the impact of the New Coronavirus on the supply chain, operational capabilities, human resources and finances, and are highly uncertain about when they can resume normal operations.”
The ISM service industry represents more than 80% of the United States economy. According to data from the United States Office of Economic Analysis, transportation, entertainment, and dining are the three cores of personal consumption spending in the United States, accounting for 14% of total consumption spending. However, the contact epidemic has created very large restrictions, leading to serious damage to the service industry that supports the American economy.
Although some US economies USA They have reopened this week, economists believe the US economy. USA It cannot recover quickly to pre-pandemic levels. Since the reopening of the economy carries the risk of a second wave of infection and blockade, it will take years to recover.
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