US: PMI preliminary surprises with a fall surprise to minimum in 7 months

Recent data from the united States showed differences. On the one hand, the preliminary report of the activity (PMI, Markit), was surprised with a fall (although it still shows activity in expansion) while the data of the real estate market moved in the predicted direction and exceeded expectations.

PMI Markit

The preliminary report, and PMI integrated Markit showed figures below what is expected in general terms. The index of services, that the consensus of the market pointed to rise to 53.7, fell to 52.5, while the manufacturing sector (consensus 53.9), fell to 52.8.

This made the composite index reaching 52.7, the lowest level in 7 months. All the components fell to the minimum in months.

“Data from the PMI suggest that the u.s. economy lost more time in the beginning of the second quarter. The survey points to a GDP growth of 1.1% after the 1.7% registered in the first quarter,” said Chris Williamosn, chief economist at IHS Markit.

Housing

In another report that came to be known today, the sale of existing homes in march rose more than expected to climb 4.4% to an annual rate of 5,71 million, surpassing the expectation of a reading of 5.60 million.

The data on the u.s. economy were mixed and had no impact on the financial markets that they will continue with tours of the price and limited consolidation.

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