Global Manufacturing Is Slowing
HEADS UP: The world's biggest economies are releasing their February manufacturing PMI reports today and Monday. And this is our scorecard.
In aggregate, the numbers show that manufacturing is slowing. The JPMorgan global manufacturing PMI fell to 50.8 from 51.4 in January.
However, any number above 50 indicates expansion.
The early read in Asia is that manufacturing has either decelerated or declined.
China's official PMI unexpectedly fell to 50.1 from 50.4 a month ago. China's unofficial HSBC PMI fell to 50.4 from 52.3.
Both fell slightly short of expectations.
However, economists warn that these reports are likely to be impacted significantly by the Chinese New Year holiday.
China is the second largest economy in the world, and it's a key source of growth for every other economy. At the very least, it's encouraging to see both number above 50, which means China's manufacturing industry continues to grow.
Eurozone's manufacturing sector remains in deep contraction with Spain and France getting worse.
Italy, however, appears to be stabilizing and Germany is actually growing.
At the beginning of each month, Markit, HSBC, RBC, JP Morgan and several other major data gathering institutions publish the latest local readings of the manufacturing purchasing managers index (PMI) for countries around the world.
PMI is one of the best leading indicators of the economy.
Each reading is based on surveys of hundreds of companies. Read more about it at Markit.
These are not the most closely followed data points. However, the power of the insights is unparalleled. Jim O'Neill, Chairman of Goldman Sachs Asset Management, believes the PMI numbers are among the most reliable economic indicators in the world. BlackRock's Russ Koesterich thinks it's one of the most underrated indicators.
Click here to refresh this page for the latest updates to our scorecard >
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SCORECARD (All Time ET)
8:00 AM Japan: Markit/JMMA Manufacturing PMI — 50.0 , up from 47.7 in January
6:30 PM Australia: AiG Manufacturing PMI — 45.6 , up from 40.2
8:00 PM China : NBS Official PMI — 50.1 , down from 50.4
8:00 PM Netherlands: NEVI Manufacturing PMI — 49.0 , down from 50.2
8:45 PM China: HSBC Manufacturing PMI — 50.4 , down from 50.6
9:00 PM Taiwan: HSBC Manufacturing PMI — 50.2 , down from 51.5
9:00 PM Vietnam: HSBC Manufacturing PMI — 48.3 , down from 50.1
10:00 PM Indonesia: HSBC Manufacturing PMI — 50.5 , up from 49.7
12:00 AM India: HSBC Manufacturing PMI — 54.2 , up from 53.2
12:00 AM Russia: HSBC Manufacturing PMI —52.0, unchanged
2:00 AM Ireland: NCB Manufacturing PMI — 51.5 , up from 50.3
3:00 AM Poland: HSBC Manufacturing PMI — 48.9
3:00 AM Turkey: HSBC Manufacturing PMI — 53.5 , down from 54.0.
3:15 AM Spain: Markit Manufacturing PMI — 58.6 , up from 48.1
3:45 AM Italy: Markit/ADACI Manufacturing PMI — 45.8 , down from 47.8.
3:50 AM France: Markit Manufacturing PMI — 43.9 , up from 42.9.
3:55 AM Germany: Markit/BME Manufacturing PMI — 50.3 , up from 49.8.
4:00 AM Eurozone Manufacturing PMI — 47.9.
4:00 AM Greece: Markit Manufacturing PMI — 43.0.
4:30 AM UK: Markit / CIPS Manufacturing PMI
9:00 AM US: Markit Manufacturing PMI
9:30 AM Canada: RBC Manufacturing PMI
10:00 AM US: ISM Manufacturing
10:30 AM Mexico: HSBC Manufacturing PMI
11:00 PM Global: JPMorgan Manufacturing PMI
Click here to refresh this page for the latest updates to our scorecard >
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