Global leading indicators showed continued signs of improvement, as Global PMI and new orders increased further confirming the positive trend in the global economy. The US and China are the main forces behind the rise.
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Global PMI new orders in October rose from 48.1 to 49.4 as overall sentiment began to recover.
In the US manufacturing ISM increased from 51.5 to 51.7 – keeping the level well above 50. The new orders index rose further from last month’s jump landing at 54.2 – the highest level since May this year.
In the euro area manufacturing PMIs have stabilised but are well below the US and China. There is still a wedge between the hard and the soft data, where hard data like industrial production have improved but PMIs have not. Scandinavian manufacturing PMIs remains weak as well – especially in Sweden.
In China the NBS and HSBC PMIs increased and for the first time since October last year both PMIs are now above 50, inventories are falling and there is a positive outlook for the future. Japan is the main drag in the Asian economies as industrial production is weak and expectations are negative but in the rest of Asia PMIs improved. In CEE PMIs were mixed but the general picture showed slight improvement. PMI in Russia improved quite strongly. In Brazil PMI increased in October, showing signs of improvement in the region.
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Business Cycle Monitor: Sentiment Continues To Rise
Published 11/05/2012, 07:02 AM
Updated 05/14/2017, 06:45 AM
Business Cycle Monitor: Sentiment Continues To Rise
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