Global Manufacturing PMI at Lowest Level Since October 2012

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  • #21130
    Helmholtz Watson

    Global manufacturing saw production fall for the first…



    Markit Canada June manufacturing PMI 49.2 vs 49.1 prior

    Output 47.7 s 48.6 prior lowest since Dec 2015
    New orders 48.9 v 47.8 prior

    Third consecutive month below 50.


    Meanwhile Service sectors hanging in there:

    [color=green]Japan Jibun Bank Markit June Services PMI 51.9 (prior 51.7)
    Japan Jibun Bank Markit June Composite PMI 50.8 (50.7)

    “The trend of manufacturing malaise and service sector resilience was once again apparent in Japan PMI data for June. That said, services activity growth moved sideways, with the respective index little-changed from April and May and matching its average for 2019 so far.

    “However, second quarter PMI readings in aggregate are indicative of the economy growing at approximately 0.3% annually. This would be a slowdown from the strength seen in the first quarter, but would corroborate with the underlying trends seen so far this year of subdued domestic consumption and struggling exports.


    Huge Miss in Singapore Q2 GDP -3.4% q/q (annualized) forecast 0.1% (Reuters poll)

    + 0.1% y/y + 1.1% forecast

    Singapore is one of the world’s main trade hubs – clear the trade war is taking no prisoners


    US June industrial production 0.0% v +0.1% expected Prior +0.4%

    United States Industrial Production year-on-year at 1.3%

    [img size=500 ]

    Manufacturing production +0.4% v 0.3% expected
    Prior manufacturing production +0.2%

    Capacity utilization 77.9% vs 78.1% expected


    US June Philly Fed +21.8 v +5.0 expected Prior +0.3

    Highest since July 2018 After a Previous Big Decline

    New orders +18.9 vs +8.3 prior
    Employment +30.0 vs +15.4 prior
    Prices paid +16.1 vs +12.9 prior

    Looking ahead, optimism about growth for the next six months improved to its highest since May 2018.

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