PMI Tag

Chinese Demand Buoys Outlook for its Neighbors

03 Feb, by Tom Nemechek in Economy

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...

US PMIs Show the Fed Walking a Fine Line

25 Jan, by Brian Clark in Economy

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...

A Goldilocks Job Report

09 Jan, by Steven Vannelli, CFA in Economy, Markets

As the market continues to rally on Monday, we can’t help but ask ourselves what data nugget might we have missed from last Friday’s data? Let’s start with the more difficult data: the employment report. On the surface, the report showed a gain of 223,000 jobs,...

Not So Fast on the Cyclical Chinese Recovery

14 Nov, by Bryce Coward, CFA in Economy, Markets

This morning investors were unfortunately treated to a rather disappointing package of October Chinese economic data. Three of the most important hard data series were reported: fixed asset investment, industrial production and retail sales. Each was lower than the previous month and missed expectations, suggesting...

Is the Economic Slowdown Over or Just Getting Started? Part 2

01 Mar, by Bryce Coward, CFA in Economy

In Part 1 of this series we talked about the lagged effect of interest rates and money growth, AKA "financial conditions" broadly speaking, on economic growth. We noted that changes in interest rates tend to impact economic growth with about a 2 year lag and...

How Much More Can We Eek Out of the Econ Data?

26 Oct, by Bryce Coward, CFA in Economy

Several months ago we wrote that looser financial conditions should support economic data and stocks through year end. So far so good. Since then economic indicators such as the Markit manufacturing PMI have continued to chug higher and US stocks are up about 6%. With...

More Evidence of China Slowing Permeating Asia – 8/6/2015

06 Aug, by Bryce Coward, CFA in Economy

In today's edition of More Evidence of China Slowing Permeating Asia we will focus on the recently released PMI data. Generally all the data tell a similar story - that there is a synchronized slowdown taking place in Asia - though Japan may be bucking...

Momentum In The Global Manufacturing Sector May Be Turning Positive

20 Apr, by Knowledge Leaders Team in Markets

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....

Fed PMIs Were Almost Universally Weaker In January

17 Feb, by Knowledge Leaders Team in Economy

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?...

Unimpressive Manufacturing PMI Results Out of Europe

02 Feb, by Knowledge Leaders Team in Markets

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...

Europe Flash PMI Better, Not Fabulous

16 Dec, by Knowledge Leaders Team in Uncategorized

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...