U.S. PMI Manufacturing Index Increased to 54.1%

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DG365FD46564GFH654FU898 Today the U.S. Manufacturing ISM report came out; according to it the U.S. Manufacturing PMI growth rate augmented again to 54.1% during January. The U.S. Manufacturing PMI is an index that presents the economic progress of the U.S. manufacturing sector; the index rose for the 30th consecutive month; the growth rate rose from 53.1% in December to 54.1% in January i.e. a 1 percent point gain. This means that the U.S. manufacturing sector is growing at a higher pace in January compared with December. Among the factors that were examined in this survey: one of the sharpest gains was in the new orders: from 54.8% to 57.6% – an increase of 2.8 percent point; exports also grew by 2.0 percent points; prices shifted from a decrease to an increase as its rate settled at 55.5%; on the other hand, among the sectors that contracted were customers inventories at 47.5% and inventories at 49.5%. According to Roache et. al (2008) it was inferred the PMI Manufacturing ISM report has a negative relation with gold and silver prices, without controlling to the U.S dollar effect. But currently, it seems that this news doesn't affect gold and silver prices as they are traded