November Begins: Global Economy Is Heading For ‘Great Stagnation’, Crucial PMI Numbers Signal Continued Contraction In Output With Rising Costs.

China HSBC PMI 49.5, Exp. 49.1, 8 month high. Last 47.9. Notes “Input costs and output charges increase”

The unofficial HSBC China manufacturing PMI just came out.

The October reading climbed to 49.5 from 47.9 in September.

This final number was notably stronge than the HSBC China Flash (or preliminary) number, which came in at 49.1 last week.

Here are the key points from Markit:

  • Modest fall in output signalled
  • New orders rise for the first time in a  year
  • Input costs and output charges increase

Australia’s Economic Problems Continue

Australia’s manufacturing PMI climbed marginally to 45.2 in October from 44.1 in September.

Any reading below 50 signals contraction in the industry.

“The contraction in manufacturing new orders also extended into an eighth month, reflecting weak global demand and a soft Australian economy,” wrote the Australian Industry Group. “After falling significantly in September, the new orders sub-index dropped a further 0.4 points to 43.9 in October.” .


South Korean Manufacturing Orders And Output Fall At A Slower Rate

South Korean manufacturing PMI climbed to 47.4 in October, up from 45.7 last month.

However, the reading is still near a 43-month low.  And any reading below 50 signals contraction.

Here are the key points from Markit:

  • Slower falls in output and new orders signalled
  • Manufacturers add to payroll numbers to greatest degree for over a year
  • Rise in input costs, but output charges cut again

“Manufacturing conditions in Korea are showing signs of stabilisation. But the recovery remains fragile,” says HSBC economist Ronald Man.  “Upward momentum is driven by expectations of higher demand over the coming months, keeping the industry vulnerable to external shocks. That said, provided recent stimulus filter through meaningfully across Korea and its key overseas markets, conditions in Korea’s all important manufacturing sector may return to expansionary territory by year-end.”



Article Continues Below


October 31 – November 1

  • Japan: Markit/JMMA Manufacturing — 46.9, down from in September 48. 0
  • South Korea: HSBC Manufacturing PMI — 47.4, up from 45.7 in September
  • China: NBS Official PMI — 50.2, up from 49.8 in September
  • Netherlands: NEVI Manufacturing PMI — 48.9, down from 50.7 in September
  • Australia: AiG Manufacturing PMI — 45.2, up from 44.1 in September
  • China: HSBC Manufacturing PMI — 49.5, up from 47.9 in September
  • Taiwan: HSBC Manufacturing PMI — 47.8, up from 45.6 in September
  • Vietnam: HSBC Manufacturing PMI — 48.7, down from 49.2 in September
  • Indonesia: HSBC Manufacturing PMI — 51.9, up from 50.5 in September
  • India: HSBC Manufacturing PMI — 52.9, up from 52.8 in September
  • Russia: HSBC Manufacturing PMI — 52.9, up from 52.4 in September
  • Ireland: NCB Manufacturing PMI — 52.1, up from 51.8 in September
  • 4:00 AM Turkey: HSBC Manufacturing PMI — in September 52.2
  • 5:00 AM Greece: Markit Manufacturing PMI — in September 42.2
  • 5:30 AM UK: Markit / CIPS Manufacturing PMI — in September 48.4
  • 8:00 AM Brazil: HSBC Manufacturing PMI — in September 49.8
  • 9:00 AM US: Markit Manufacturing PMI — in September 51.1
  • 9:30 AM Canada: RBC Manufacturing PMI — in September 52.4
  • 11:30 AM Mexico: HSBC Manufacturing PMI — in September 54.4

November 2

  • 4:15 AM Spain: Markit Manufacturing PMI — in September 44.5
  • 4:45 AM Italy: Markit/ADACI Manufacturing PMI — in September 45.7
  • 4:50 AM France: Markit Manufacturing PMI — in September 42.7
  • 4:55 AM Germany: Markit/BME Manufacturing PMI — in September 47.4
  • 5:00 AM Eurozone Manufacturing PMI — in September 46.1


Source: businessinsider



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