The Latest Data: The Good And The Bad Thus Far

This is a really big week for data, below is what we’re looking at so far. Let’s eat our vegetables first.


Bad Data:

  • Yesterday’s Australia Manufacturing Index for January came in at 45.4, down from 48.3, below 50 denotes contraction.
  • South Korea’s Manufacturing PMI for January came in at 48.8, vs expectations of 49.3, below 50 denotes contraction.
  • Chinese Industrial Profits for December plunged 6.30% year-over-year, and that was before coronavirus.
  • China’s Caixin Manufacturing PMI for January came in at 51.1, down from 51.5, but still above 50.
  • Spain’s Manufacturing PMI for January came in at 48.5, down from 47.4, below 50 denotes contraction.
  • Hong Kong GDP for Q4 came in at -3.0%.
  • South Africa Manufacturing PMI for January came in at 45.2, down from 47.1
  • U.S. Manufacturing PMI for January came in at 51.9, down from 52.4, but still above 50.

Now the better-tasting stuff.

Good Data:
  • India’s Manufacturing PMI for January came in at 55.3, up from 52.7.
  • Italian Manufacturing PMI for January came in at 48.9, up from 46.2, but still in contraction mode.
  • French Manufacturing PMI for January came in at 51.1, up from 51.0.
  • German Manufacturing PMI for January came in at 45.3, up from 43.7, but still in contraction mode.
  • Eurozone Manufacturing PMI for January came in at 47.9, up from 46.3, but still in contraction mode.
  • UK Manufacturing PMI for January came in at 50.0, up from 47.5.
  • Brazil Manufacturing PMI for January came in at 51.0, up from 50.2
  • Singapore Manufacturing PMI for January came in at 50.3, up from 50.1.
  • Canada Manufacturing PMI for January came in at 50.6, up from 50.4
  • US ISM Manufacturing Index for January came in at 50.9, up from 47.8.


Thus far — amid a veritable avalanche of global monetary stimulus — the latest data continue to paint a very mixed picture. Although, I have to say that the US ISM data (albeit barely back in expansion mode) is an unambiguous positive!

Share:
Share on linkedin
Share on facebook
Share on twitter
Share on email
Share on pinterest

Recieve Between the Lines Posts to your Inbox

Sign up for lorem ipsum delores sin.

We care about the protection of your data. Read our Privacy Policy.