China: PMIs are even more bad news
The widely followed Markit PMI report of China's manufacturing for July was disappointing, coming in at an 11 months low.
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Browsing Tag
manufacturing
Euro Zone June Manufacturing PMI Rises to 16-Month High of 48.8, EU rejects earthquake repair
Still contracting but at a reduced pace. Germany a bit worse and other up a bit may show the squeeze has caused a bit of a shift from Germany to other members as the pie continues to shrink?In any case, a reduced pace of deterioration does…
Chart of the day: Chronic American excess capacity
The long-term trend in capacity utilization in the US shows a secular decline. After each major recession over the past 50 years, capacity utilization peaked at a lower level than after the previous recession. So far in the post-Great…
On predicting the US and European cyclical economic outlook
As I mentioned in an earlier post on Europe, a slew of manufacturing data was released today. When I wrote the first post, Europe and Asia had been released but the US had not. SInce then, the US numbers came out showing a shock…
Watch second derivatives in the Eurozone
Markit released a slew of manufacturing PMIs today and the eurozone was the most heavily watched amongst the bunch. The data show Europe still contracting, but at a less pronounced pace. I believe this could be a positive harbinger.
Ireland hit hard by spring slowdown; markets don’t show it yet It
It seems that the markets are discounting many of the risks that have plagued Ireland's economy in recent years. Ireland's stock market has significantly outpaced the S&P500 in the last few months - ISEQ is up 20% over the past year.
Outside of US housing, the global economic data are weak
This is a second daily commentary today to give some weight to what's happening in the US after a slew of European-themed posts. I have three or four topics to cover here and I want to begin with the US economy including some thoughts on…
On Latvia and Ireland as austerity models
Earlier in the week, ECB German board member Jörg Asmussen delivered a speech on the challenges of the economic crisis for countries in Central and Eastern Europe. The part which caught most people's eyes was his commentary on Latvia and…
The data coming out of the US have been weak
In his daily commentary today, Andy Lees of the Macro Strategy Partnership noted that, "the US macro surprise index is now -7.90, the European index is -69.20 and the G10 index at -32.8." What he is saying is that the data are weakening and…
The trouble in Euro Area economies moves to France
By Sober Look As discussed earlier (see post) the French economy continues to struggle. The nation's consumer recession is now thought to be worse than Italy's. Markit (Trevor Balchin): - “France has overtaken Italy as having the worst…