The purchasing manager’s Index for June 2021 stood at 53.3. A reading over 50 suggests an expansion for the industry.
Compared with May 2021, the index fell by 0.7% compared with the previous month and -10.4% compared with the same month in 2020. The average PMI from January to June was 50.06, while in 2021, it has been 56.86, an increase of 14%.
The categories with the largest year over year changes were own inventories, export orders, and new orders.
The PMI for New orders expanded in June with a value of 54.8. Compared to May 2021, it grew by 4.2%, while in comparison with June 2020, it fell by 7.9%. The average PMI for New Orders from January to June 2021 has been 59.4, 30% more than 2020.
Own Inventories in June 2021 was 40.5; a reading under 50 reflects a reduction in the industry. June is the fourth consecutive month with readings under 50. When compared to May 2021, it’s 9.4% less. When compared to June 2020, own inventories stand at 43% less. The average accumulated PMI from January to June is 49.15, while in 2020, for the same period, it was 55; in 2021, the index is down by 11%.
The PMI for Export orders in June 2021 was 35.7. When compared to May 2021, it fell by 15.2% and 16.8% when compared to June 2020. Accumulated from January to June is 54.65 while in 2020, for the same period it was 41.1. So far in 2021, Export orders are 5% ahead of 2020.
In General, the PMI in June 2021 stood at 57.1. When compared to May 2021, the index expanded by 14.2%, while when compared to June 2020, the index is -7.8% behind. The accumulated average from January to June in 2021 is 43.31, while in 2020, it stood at 44.58. In 2021 the accumulated PMI, in general, is 23% ahead of 2020.
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