October 6, 2014

Latest Economic News From Around The Globe

  • The JP Morgan global purchasing managers’ index (PMI) fell to 52.2 in September from 52.5 in August as growth was “near stagnant” in Europe and Asia. Overall, new orders, output and prices eased while employment increased. As a reminder, readers can find press releases for all recent country-specific PMI releases on the Markit website.
  • The HSBC PMI for China remained steady at 50.2 between September and August. Output and staffing were down in the Chinese manufacturing sector while new export orders rose. The Markit PMI for South Korea, meanwhile, fell below the 50-point level that indicates expansion as new orders and new export orders declined. In other Asian manufacturing news: the sector in Vietnam strengthened in September as new orders rose; Taiwan’s sector continued to expand, but at a slower rate as output eased; and Japan’s PMI fell slightly though output and new orders increased. 
  • The Markit PMI for the Eurozone fell to 50.3 in September from 50.7 in August as the individual PMIs in Germany and France fell below the all-important 50-point mark. Markit Chief Economist Chris Williamson said, “September’s eurozone PMI makes for gloomy reading. The euro area’s manufacturing economy has lost the growth momentum seen earlier in the year, lurching closer to stagnation. The near-term outlook also looks worrying. Order books are now deteriorating for the first time since June of last year, suggesting output could start to fall as we move into the final quarter of the year.”
  • The HSBC PMI for India fell to 51.0 in September from 52.4 in August. Output and new orders continued to grow, but at slower rates, as employment remained steady.