European countries manufacturing sector remains in expansion for June according to the latest S&P Global PMI™ data with most beating expectations. The eurozone saw output decline, however. The euro area and the UK were some of the larger manufacturing economies to see new business decline. Business optimism in most areas dipped to a two-year low, inflationary pressure remained elevated and supply chains also stayed stretched. The S&P Global Eurozone Manufacturing PMI® fell from 54.6 in May to 52.1 in June, its … Continue reading “European Manufacturing PMI Declines For Fifth Consecutive Month in June”
Asian countries manufacturing sector remains in expansion for according to the latest S&P GlobalPMI™ data. Severe price pressures continue as companies generally set higher selling charges in response to rising input costs. Higher costs for energy and shipping in particular are impacting. An easing in COVID restrictions in China started a recovery in the world’s largest manufacturing economy. Headwinds remain with tapering growth of new order intakes, lower business confidence and stretched global supply chains. Asia Manufacturing PMI June 2022 … Continue reading “Most Asian Manufacturing PMI Remain in Expansion Beating Expectations in June”
Auto makers and parts makers experienced a steepening production decline in September with the sharpest drop in output since May of last year IHS Markit’s PMI surveys showed. Supply delays, which rose to unprecedented levels in September.
Australia’s Markit preliminary PMIs for September saw Manufacturing at 57.3 (prior 52.0) and Services off a 14-month low to 44.9 (prior 42.9) as continued lockdowns aimed to bring the COVID-19 situation under control dampened business conditions.
Australia’s Markit preliminary PMIs for July saw Manufacturing at 56.8 (prior 58.6) and Services crash to a 14-month low 44.2 (prior 56.8) as renewed lockdowns aimed to bring the COVID-19 situation under control disrupt the economy.
South Korea reported exports are surging again in the first 20 days of April. The Bank of Korea at it’s most recent policy meeting said the recovery of the Korean economy has strengthened somewhat. Exports have sustained their buoyancy and facilities investment has continued to recover robustly.
South Korea reported February industrial output at its fastest pace since June last year. Industrial output seasonally adjusted +4.3% mth/mth over the expected Reuters poll -0.1% over January. Industrial output +0.9% yr/yr versus the Reuters poll +2.5%.
Global manufacturing saw production fall for the first time since October 2012, new orders fell at the fastest pace for almost seven years. Business optimism slumped to a series-record low. Declines were registered in the euro area, China and Japan. Increases in the US and India.
The UK manufacturing sector in June fell again after a much larger downturn than expected in May. We are seeing balancing after the March spike to 55.1 boosted by stock purchases ahead of Brexit hitting a G-7 record. UK exports were also at their lowest in almost 5 years.
The UK manufacturing sector in May had a much larger downturn than expected, much of it to do with the March spike to 55.1 vs 51.2 expected boosted by stock purchases ahead of Brexit hitting a G-7 record. UK exports were also at their lowest in almost 5 years.