Some encouraging economic data gave markets something to digest today — even as volatility stayed front and center.
In this episode of Markets with Megan, Verdence CIO Megan Horneman breaks down the latest Purchasing Managers Index (PMI) data for both manufacturing and services, highlighting a surprising jump in manufacturing activity. January marked the largest monthly increase since June 2020, pushing manufacturing back into expansion territory for only the third time in three years.
Megan walks through what’s driving the improvement, including a surge in new orders, easing supply pressures, and improving, though still fragile, employment conditions. On the services side, activity remained firmly in expansion for the 19th consecutive month, with strength in business activity and delivery times.
However, rising prices paid in both manufacturing and services signal that inflation risks can’t be ignored, and investors should stay cautious as economic momentum builds.
📊 What does this data mean for markets, inflation, and the economic outlook ahead? Watch now.
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