Institute for Supply Management (ISM) Chair Timothy Fiore said in an MNI interview on Thursday that "there's clearly a trend towards getting to price stability. We're leveling off through the end of the year.”
Key quotes
"We're not out of equilibrium if prices dropped down to 45 and up."
US manufacturing will see steady growth through the end of the year and added the sub-indexes are "changing for the good."
"As lead times were pushed out, buyers had to jump into the market and now they're trying to make sure that as they close the year they don't get stuck with excess inventory."
"That could mean prices will drop at some point but I don't think it's in the next two to three months."
"Employment gains in August should translate into stronger expansion in production growth in September.”
"We made gains simply because the quits rate slowed down because some are getting a little concerned about the economy.”
“The ratio of hiring to firing has also been stable for several months.”
Related reads
- US: ISM Manufacturing PMI unchanged at 52.8 in August vs. 52 expected
- US Dollar Index retreats from cycle highs near 110.00 ahead of Payrolls
