Terrible news out of Poland on Thursday morning as Polish manufacturing showed signs of a steepening downturn, posting the worst results since the depths of the first wave of the economic crisis in 2009.
April’s purchasing managers index, compiled by Markit Economics for HSBC, hit 46.9, far below analysts’ expectations of 47.8 and the worst since July 2009. PMI figures of less than 50 denote a contraction of manufacturing, and Poland has been posting them for 13 successive months, the grimmest performance in a decade. Continue reading »
First the good news: all six of the Asian purchasing managers’ indices from HSBC/Markit are in positive territory (that is, a score above 50, which separates expansion from contraction).
Now the bad news: three of the six are heading the wrong way. Continue reading »
While China’s manufacturing indices have been rather depressing of late, Indonesia’s numbers are much healthier.
The PMI score came out at 51.7 in April – up from March, a six-month high, and the second highest in the last few years. So, all good? Continue reading »
Chinese manufacturing growth saw a surprise slowdown in April, with the official purchasing managers’ index (PMI) falling to 50.6 from March 50.9. Economists polled by Reuters had forecast an increase to 51.0.
But, as the chart below shows, it’s not the small month-to-month changes of the past year that matter, but the failure of Beijing’s stimulus measures to give manufacturing a decent boost. With exports weak, industry is clearly struggling. Continue reading »
Chinese stocks fell sharply on Tuesday on the publication of more evidence of an economic slow down.
This time it was was HSBC’s preliminary PMI index for April, which dropped from 51.6 to 50.5. That still leaves it in positive territory but in the current gloomy atmosphere financial investors are focusing on the negative – and finding it. Continue reading »
One month doesn’t make a recovery, as South Africa’s manufacturing index showed on Tuesday.
The Kagiso Purchasing Managers Index (PMI) dropped 4.3 points to 49.3 in March, back below the crucial 50 mark, and casting doubt over the next six months. Continue reading »
Optimistic hopes that the slowdown in central Europe would start to level out in the early months of this year are proving to be far off the mark.
New data shows an accelerating downturn in Poland and the Czech Republic, the region’s two largest economies. Continue reading »
Source: HSBC / Markit
After last month’s rather gloomy reading, March’s HSBC/Markit manufacturing indices for Asia have a far more positive hue.
In fact, all 6 countries with data released on Monday were above the 50 mark that separates expansion from contraction – and only India saw a fall in the reading. That’s not bad at all. Continue reading »
When it comes to manufacturing indices, China is the big one. The question is which index to look at: the official state figures, or the widely-used HSBC/Markit index? They can often show different results.
For March, it’s relatively good news whichever index you pick. Official figures? Up, at 50.9. (50 is the mark that separates expansion from contraction), rising from 50.1 in February. HSBC/Markit? Up, at 51.6, higher than February’s 50.4. Continue reading »
South Korea’s inflation unexpectedly slowed last month on weak domestic demand, despite a pickup in manufacturing activity, giving room for the Bank of Korea to cut interest rates further.
But will the central bank do so at its next meeting on March 14? Most economists seem to think not. Continue reading »
That bumping sound you hear may be the echo of Poland’s economy hitting bottom with new data showing the the economy grew by just 1.1 per cent in the final quarter of the year.
But disappointing though that is for a country that has boasted of its ability to ride the post-2007 global crisis, it was slightly more than the consensus forecast of 0.9 per cent. And new purchasing managers index numbers from central Europe released on Friday also suggest the region is doing a bit better than before, thanks largely to a pick-up in Germany, the biggest export market. Continue reading »
Time to take the temperature of Asian manufacturing – has the recovery of the last few months been sustained?
Answer: there are a few worrying signs, especially in China and Vietnam. Continue reading »
What to make of Monday’s China flash purchasing managers index from HSBC, given the distorting impact of the Chinese New Year holiday?
With a reading of 50.4 (just above the 50 threshold that separates contraction and expansion), there’s something in it for bulls and bears alike. Continue reading »
Another data point out today is undoubtedly going to encourage those hoping to see evidence that the green shoots of China’s economic recovery have sturdy roots.
This month, the HSBC/Markit China flash purchasing managers’ index, a private survey of the health of the manufacturing sector, hit its highest point in two years, as Chinese manufacturers accelerated production and began some restocking. Continue reading »