US data paints 'picture of strength'

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The Independent Online
US data paints 'picture of strength'

The National Association of Purchasing Management in the US said its lead index last month fell from 55 to 54.2. The number was above forecasts of 53.6, but economists said the prices index, which fell to 49.6 from 50.9 in March, should put US credit markets in a buoyant mood before today's all-important April jobs data. Economists said the NAPM and prices data painted a picture of continued US economic strength devoid of any concrete evidence of inflation. "It's kind of a microcosm of all the other data we got on the economy, strong real economic activity but still great price performance," said John Williams, chief economist at Bankers Trust.

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