China reported year-over-year inflation last night at just 0.1%, 0.2% lower than expectations. Clearly China’s reopening is not creating price pressures, which brings the strength of the reopening into some question. Recently, we saw a fairly significant drop in China’s PMIs—all of them well below 50—indicating...
With Caixin China PMI numbers today broadly confirming Monday’s official CCP data, the outlook for China and its neighbors remains bright. The general trends shown in the Caixin PMIs reflect those of Japan and South Korea. Manufacturing held steady or gained slightly across Asia in...
The US Purchasing Managers Composite Index (PMI) increased in January to 46.6 from 45 in December, representing a slowing economy but slightly less pessimistic than expected and better than the month before. As a preliminary release for January, this US PMI report gives investors the...
From a momentum standpoint, global manufacturing peaked in September 2013 and has been steadily slowing, at least in terms of breadth, since then. In order to understand the global manufacturing sector we have created a variety of diffusion indices using the Markit Manufacturing PMI Data....
Historically, there has been a fairly strong relationship in the trends of German construction output and the results of Markit’s PMI Construction survey....
We had our first look at manufacturing conditions in February (NY Fed Empire Survey came in below consensus by a few points) and tomorrow we have the industrial production report for the US. What should we expect when that report comes out?...
The drop in oil prices has brought up a few questions with respect to who will benefit and who will be negatively impacted. There are regional PMI surveys and Federal Reserve surveys that can help fill in some of the gaps. For example, below is...
Markit’s PMI Manufacturing survey data released today showed little change in euro area countries’ headline readings, as most continued to hover around the all-important 50 level: The largest monthly improvement was in France (~2 points) while Ireland’s survey fell the most (~2 points), and no...
While today’s better than expected rise in the flash PMI indicator (black line) for the euro zone is a welcome surprise, it would seem that it will take quite a bit more improvement before we can reasonably expect substantial progress in the recovery of important...
The US ISM non-manufacturing survey for November was released today and showed an increase of 2.2 points to a robust level of 59.3....
Following yesterday’s rather disappointing retail sales data release, Markit’s Retail PMI data (released today) were not very inspiring either: While Germany managed to register marginal growth, the rest of the region’s major economies remain below 50, indicating continued contraction: Employment fell for the first time...
Australia, being one of the world’s biggest commodity producers, finds itself at the very beginning of the global supply chain for infrastructure investment and many manufactured products. It makes sense then, that magnitude and directional changes in the pace of global investment and consumption would...
The US ISM Manufacturing index surged to a three-year high today at 59 for August. The Markit Manufacturing PMI for the US made a 52-month high as that index rose to 57.9. However, the Markit Global Manufacturing PMI is only moderately above the expansion level...
The ISM Non-Manufacturing index came in much higher than expected for July at 58.7 vs consensus of 56.5. Consequently, it helped boost our ”GDP weighted” PMI to it’s highest level since December 2005. The new orders index also reached it’s highest level since August 2005....
