ISM stated that the industrial output in the United States has decreased less in May 2020 compared to April 2020. The Purchasing Managers Index reached a level of 43.1, compared to 41,5 in the previous month. A value of 43.7 was expected by economists. The PMI figure from Markit was 39.8 compared to 36.1 in April. A value of 50 or higher indicates growth.
The Purchasing Managers Index from Markit and Caixin shows that the output of the industry in China has grown slightly in May 2020. The index reached a value of 50.7 in May 2020, compared to 49.4 in April. The official index of the Chinese government noted a value of 50.6, slightly more than the previous month. The index of the Chinese government is focused more on large, state-owned firms, while Markit and Caixin are more focused on smaller, privately owned enterprises. Economists expect that the export from China will slowly pick up again as corona measures are loosed in various countries.
According to United States government figures, construction spending decreased by 2.9% in April compared to March. Economists expected a decrease of 6%. In March, construction spending increased by 0.9%.
The 6M Euribor decreased with 2 basis points to -0.16% compared to previous business day. The 10Y Swap increased with 3 basis points to -0.10% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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