Global Economic Analysis and News of Note
- There was mixed news again for the Asian manufacturing in purchasing managers’ indices (PMIs) released last Monday. The Markit PMI for Japan came in at 52.0 in December, the same level it was at in November. (Production, new orders and employment all strengthened despite the neutral reading.) The PMI for Vietnam improved to 52.7 in December – the reading’s highest level since April 2014 – from 52.1 in November but the HSBC index for Taiwan fell to 50.0 last month from 51.4 in November. Declines in output and new orders, the first since August 2013, drove the decline in Taiwan’s PMI.
- The Manufacturing Alliance for Productivity and Innovation Foundation (MAPI) released its updated outlook for the Asian manufacturing sector. The MAPI Foundation expects the Chinese manufacturing industry to continue to slow while the Indian sector will pick up.