Global PMI: Global Economic Recovery Is Weakening – Crucial PMI Numbers Coming In WEAK!!! Australia Economy Is Collapsing While UK, India, China, France All Came In Weaker Than Expected: New Orders And Production Contracting, Soft Demand, Weak Confidence. Tom Kee: DJIA Could Crash 50%
SCORECARD (All Time ET)
SCORECARD (All Time ET)
- 7:00 PM South Korea: HSBC Manufacturing PMI — 49.9, down from 50.1 in Dec.
- 7:30 PM Australia: AIG Manufacturing PMI — 40.2, down from 44.3
- 8:00 PM China: NBS Official PMI —50.4, down from 50.6
- 8:00 PM Netherlands: NEVI Manufacturing PMI — 50.2, up from 49.6
- 8:45 PM China: HSBC Manufacturing PMI —52.3, up from 51.5
- 9:00 PM Taiwan: HSBC Manufacturing PMI — 51.5, up from 50.6
- 9:00 PM Vietnam: HSBC Manufacturing PMI — 50.1, up from 49.3
- 10:00 PM Indonesia: HSBC Manufacturing PMI — 49.7, down from 50.7
- 12:00 AM India: HSBC Manufacturing PMI — 53.2, down from 54.7
- 12:00 AM Russia: HSBC Manufacturing PMI — 52.0, up from 50.0
- 2:00 AM Ireland: NCB Manufacturing PMI — 50.3, down from 51.4
- 3:00 AM Turkey: HSBC Manufacturing PMI — 54.0, up from 53.1
- 3:15 AM Spain: Markit Manufacturing PMI — 46.1, up from 44.4.
- 3:45 AM Italy: Markit/ADACI Manufacturing PMI — 47.8, up from 46.7
- 3:50 AM France: Markit Manufacturing PMI — 42.9, down from 44.6
- 3:55 AM Germany: Markit/BME Manufacturing PMI — 49.8, up from 46.0
- 4:00 AM Eurozone Manufacturing PMI — 47.9, up from 46.1
- 4:00 AM Greece: Markit Manufacturing PMI — 41.7, up from 41.4
- 4:30 AM UK: Markit / CIPS Manufacturing PMI —50.8, down from 51.2
- 5:00 AM Australia: AiG Manufacturing PMI
- 7:00 AM Brazil: HSBC Manufacturing PMI
- 9:00 AM US: Markit Manufacturing PMI
- 9:30 AM Canada: RBC Manufacturing PMI
- 10:30 AM Mexico: HSBC Manufacturing PMI
- 11:00 PM Global: JPMorgan Manufacturing PMI
China’s NBS just published its official manufacturing PMI report, and it’s a bit of a disappointment.
The headline number unexpectedly slipped to 50.4 in January.
Economists were expecting an increase to 51.0 from 50.6 in December.
Its manufacturing PMI slumped to 40.2 January, down fom 44.3 in December.
Any reading below 50 signals contraction.
Here’s a breakdown of the sub-indices. As you can see, exports are particularly horrific:
Here’s a historical look at headline PMI:
UK PMI isn’t going to move markets much.
The index fell slightly from 51.2 to 50.8.
No green shoots here.
Whereas Spain and Italy both saw improvement from December, France did not.
Here’s the damage in one quick image summary.
There’s an old axiom that claims you get what you pay for, meaning value does not come cheaply. This is particularly poignant at a time when traders are on watch for the Dow (^DJI) and S&P 500 (^GSPC) to set new closing highs and investors seem immune to existing signs of caution. Even theworst GDP figure in 3 1/2 years didn’t do much to slow the market’s ascent.
Even the most optimistic investors are getting a bit antsy these days, wondering how and when it’s all going to end. For Tom Kee, president & CEO of Stock Traders Daily, the answer to that question is ‘not well.’
“I’m looking for another high in this market, then I am looking for a turn down,” Kee says in the attached video, adding that he believes it is “going to come relatively soon.”
By downturn, however, what Kee real means is a crash to the tune of ”50 to 60%,” which would bring the Dow Jones under 6,000.