Monday, October 3, 2011

PMI News... US, Euroland

US ISM Manufacturing Index

PMI surprisingly strong at 51.6% (vs 50.6% in Aug).
- indicates expansion in the manufacturing sector for the 26th successive mth,  and at a slightly higher rate than the previous mth.
New Orders Index  stayed at 49.6% (same as Aug)
Employment Index was at 53.8% (higher than the 51.8% in Aug)

My Thots...
Much stronger than I expected!


Countries ranked by Manufacturing PMI® (Sep)
Germany        50.3    24-month low

Netherlands   48.9    26-month low
Austria          48.7    26-month low
Italy               48.3    2-month high
France           48.2    26-month low
Ireland           47.3    24-month low
Spain             43.7    27-month low
Greece           43.2      7-month low
Only Germany stays in expansionary zone.
Italy surprisingly improves MoM
Greece is at a 7mth low.

Lets take a closer look at Germany's figures...


At 50.3%, the PMI barely stays above the expansion threshold.
Key points:
􀂃 Output growth picks up slightly, but New Orders fall at faster pace
􀂃 Sharpest drop in New Export business since June 2009
􀂃 Output charge inflation lowest for a year-and-a-half

My Thots...

The German data  for New Orders & New Exports look weak and  are in danger of falling, if the crisis drags....

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