Rabobank analysts said the flash reading for the U.S. Purchasing Managers' Index (PMI) due later tonight may not fully capture recent shifts in geopolitics and commodity markets. According to the analysts, the July survey was likely conducted over the past two weeks. If a large share of respondents answered earlier in that period, they may not yet have fully factored in the latest developments in the Middle East or the impact of this week's rise in oil prices. That timing could leave the survey results skewed and unable to fully reflect current conditions. The remarks were cited by Odaily, which referenced Jin10 as the source.
Rabobank analysts warned that the flash U.S. Purchasing Managers' Index (PMI) reading for July, due later tonight, may not fully reflect recent changes in geopolitics and commodity markets.
The analysts said the July survey was likely completed over the past two weeks. If many respondents submitted their answers earlier in that window, they may not have fully taken into account the latest developments in the Middle East or the impact of this week's increase in oil prices. As a result, the survey reading may be subject to bias.
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