Mixed Manufacturing Figures Across The Globe
Markit Economics have spent the day releasing the final September Purchasing Managers Indices (PMI) for the Manufacturing sectors of various countries. There are few surprises with general weakening across the board bar one or two exceptions. One of those exceptions is not the US which has seen a decrease to 57.5 from August’s 57.9 according to the figures just released, the expectation was for a rise to 58.5 in September.
The UK’s PMI data also disappointed markets by dropping to 51.6 from an August reading of 52.5, at the very least analysts had expected the September reading to remain in line with the previous month. Although slow to join the recovery, the UK’s manufacturing sector had been thought to have finally begun to benefit from delayed investment, today’s PMI data highlights the fact that this area of the British economy still has some question marks around it.
Unsurprisingly the Eurozone PMI figure has fallen once again this month confirming an under performing manufacturing sector that is pervasive across the bloc. The reading of 50.3 represents a further fall from August’s 50.7 and came in weaker than the anticipated 50.5 level.
The German economy is the main disappointment in the Eurozone, the PMI Manufacturing number has been reported as just 49.9, this is again down on the prior month’s figure which was 51.4, it also represents a slide from expansion to contraction. Although a lower number of 50.3 was anticipated there was no expectation for the size of the fall experienced in this latest data.
The fall in the overall Eurozone figure could have been grated if not for the positive results from the bloc’s second, third and fourth largest economies. France, Italy and Spain all posted gains on the month to 48.8, 50.7 and 52.6 respectively. Greece meanwhile registered a significant drop from 50.1 to just 48.8.
Sorry. No data so far.