Eurozone industrial sector stagnated: PMI at 51.5 points
Weak demand remains the key to the lack of inflationary pressures in the Eurozone.
PMI
Spain PMI exceed expectations
Composite and Services PMI, which is elaborated by the consultancy IHS Marlon, exceeded expectations for Spain. The PMI for services rose from 54.5 in February to 56.8 in March compared to the expected 55.
Spanish services sector pushed by new business in September
Spain’s services sector, about 50% of the country’s GDP, was boosted in September thanks to new business at the fastest rate in more than two years, according to Markit’s Purchasing Managers’ Index (PMI).
The importance of technological developments on monetary normalisation
José Luis M. Campuzano (Spanish Banking Association) | The key to monetary normalisation for many people is the moderate evolution of inflation. That said, it’s also important monetary policy adapts to the potential impact of technology developments on inflation.
The Eurozone has geared up
Suprising as it may be, 18 of the 19 members of the Eurozone saw an increase in GDP in Q1’17 with respect to Q4’16. Spain’s GDP improved by 0.6%; Italy managed to grow (0.2%); Germany and France clocked up a 0.4% rise. Only Greece remained in the red. The unemployment rate in the region has officially fallen to 9.6%…there is growth.
Spanish manufacturing sees further improvement
Operating conditions continued to improve in August, according to the latest Markit PMI survey. Output grew to a 3-month high, yet new orders rose at levels of 2013.
Has the adjustment time for China’s economy arrived?
The adjustment is serious and is a reaction to the eruption of China’s triple bubble: credit, real estate and stock markets.
More bad news for China
Flash manufacturing PMI for August and IMF decision bring more negative news for China.
Markets relieved by China PMI
Caixin China services PMI rose to 53.8, a 11-month high, in July (well above the 50-mark separating contraction from growth and up from June’s 51.8), giving a respite to market watchers concerned by the recent weak manufacturing data.
China flash PMI falls to a 15 month low
HONG KONG | July 24, 2015 | Barclays | The Markit “flash” manufacturing PMI unexpectedly fell to 48.2 in July, reaching a 15-month low (consensus: 49.7; Barclays: 49.7). The weaker PMI supports our view that the economy is not on solid footing, and we look for a flat growth profile in H2.