Category: prior
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New Zealand services PMI for September 2024: 45.7 (prior 45.5)
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BNZ – BusinessNZ Services Performance Index for September 2024 remains in contraction at 45.7 August was 45.5 Seven consecutive months of contraction BNZ Chief Economist Doug Steele: “Moves in the PSI sub-indices were mixed in September, but all have remained below 50 for seven straight months. While lower interest rates…
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Australian housing finance data, August 2024: Home loans +0.7% m/m (prior +2.9%)
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates more risk and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience and risk tolerance. You may lose some or…
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Japan Jibun Bank September Manufacturing PMI (final): 49.7 (prior was 49.8)
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Japan Manufacturing PMI for September 2024, final from S&P Global/Jibun Bank. Another shrinkage result. Primary here: Key points in the report: Production levels fall for the second time in three months The slowest rise in employment levels in the current seven-month sequence Excise duty inflation reaches its lowest levels since…
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China Caixin September Manufacturing PMI 49.3 (prior 50.4) Services 50.3 (prior 51.6)
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China PMIs from own survey These are not good results, but they are old and outdated news now given all the stimulus announcements from China in the past week. previously: China official PMI data: manufacturing 49.8 (49.5 expected) — — China has two primary Purchasing Managers’ Index (PMI) surveys –…
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Australia preliminary Sept PMI: Manufacturing 46.7 (prior 48.5) Services 50.6 (prior 52.5)
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The preliminary Australian manufacturing PMI from S&P Global Platts slips deeper into contraction at 46.7 Services decline but remain in expansion at 50.6 The composite index declined due to a decline in the manufacturing PMI, with the composite index recording 49.8. Summary of the report commentary: Manufacturing sector shrinks, registering…
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New Zealand data – Q3 consumer confidence 90.8 (prior 82.2)
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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New Zealand data – ANZ Commodity Price Index, August 2024: +2.1% m/m (prior -1.7%)
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For the New Zealand dollar, the index rose 1.5% on a monthly basis as the NZD Trade Weighted Index fell 0.7%. As part of this report, ANZ covers global shipping rates: Global freight rates remain high as ships continue to avoid the Suez Canal due to ongoing tensions in the…
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China Caixin Manufacturing PMI August 2024: 50.4 (expected 50.0, prior 49.8)
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Over the weekend, we got the official PMIs: China Manufacturing PMI for August 49.1 (49.5 expected), Services 50.3 (50.0 expected) More details: The Caixin S&P Global Manufacturing Purchasing Managers’ Index was much better, at 50.4. From the report, in brief: Demand rose as total new orders resumed growth, with demand…
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Australia August Manufacturing PMI 48.5 (prior 47.5)
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Australia – Judo Bank/S&P Global Manufacturing PMI for August 2024, comes in at three-month high of 48.5 Previous 47.5 Quick read here: Australia PMI Flash August: Manufacturing 48.7 (previous 47.5) Services 52.2 (previous 50.4) Comment on the report, in summary: Not a manufacturing recession, but a prolonged soft landing. Capacity…
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Dallas Fed services sector outlook index -7.7 vs -0.1 prior
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Dallas Fed Services Sector Expectations Index Previous was -0.1 Revenue Index +8.7 vs. +7.7 previously Employment +0.6 vs. -0.2 previously Company forecast -3.1 vs. +1.0 previously 6-month index +12.4 vs. +20.5 previously Comments in the report: Facilities I feel like a recession is going to hit the US. Storage and…
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Eurozone June current account balance €51.0 billion vs €36.7 billion prior
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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New Zealand data, July trade balance -963m (prior +585m)
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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China Caixin Manufacturing PMI for July 2024 49.8 (expected 51.5, prior 51.8)
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I have revised this result twice, as it has returned to contraction again after a good June. This was a major failure to meet expectations. This is its first contraction in nine months, and points to underlying problems in the Chinese economy. The PMI had performed better than the official…
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Japan June Services PMI 49.4 (prior 53.8)
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Japan’s services PMI hits 49.4 in June, first contraction in nearly two years Flash 49.8, before 53.8 Compound 49.7 Flash was 50.0 before 52.6 previously: Japan Final Manufacturing PMI for June 50.0 (Previously 50.4) Comment on the report: The recent strong surge in business activity in Japan’s services sector came…
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Japan final manufacturing PMI for June 50.0 (prior 50.4)
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S&P Global Manufacturing PMI for June 2024 Reaches 50.0 Previous 50.4 The initial was 50.1. From comment to report: “It is worth noting that the latest PMI data revealed the first rise in Japanese factory output in more than a year, and a recovery in business confidence. Although employment continued…
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June US KC Fed manufacturing index -11 vs -1 prior
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The previous one was -1 The composite index is -8 versus the previous -2 “It is clear that inflation has forced the customer to make ‘either/or’ decisions on how to spend their money. We see that the value-added elements of the food sector are severely affected. Our business is not…
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EV wave still on horizon, but smaller than prior tsunami By Investing.com
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Bank of America analysts are anticipating a slower wave of electric vehicles (EV) than previously expected in their latest note covering the sector. While electric and hybrid vehicles will still account for nearly 60% of new car offerings by 2028, the bank notes that this represents a decline from 64%…
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Reuters Tankan report for June 2024: Manufacturing index +6 vs. prior +9
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The Reuters Monthly Tankan Survey is a guide to the Bank of Japan’s quarterly Tankan Survey. For June 2024: The Manufacturers Index is +6, from +9 in May Positive for the fourth month in a row Japanese manufacturers say their low confidence is due to high material costs. Non-manufacturers +31,…
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Australian May business confidence -3 (prior 1.0)
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National Australia Bank Business Survey May 2024 Business confidence -3 Previously reviewed to 2 Working conditions 6 Before 7 Conditions tend to be a more objective measure than confidence (feelings). ugly. Inflation indicators are not encouraging: Quarterly growth in retail prices jumped to 1.6% from 1.0% Increase in labor costs…
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ANZ expect the first Reserve Bank of New Zealand rate cut in February 2025 (prior May ’25)
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Reserve Bank of New Zealand forecasts from ANZ in New Zealand. Briefly: We have revised our forecast for the official cash rate (OCR) and now expect the first OCR cut to come in February 2025, rather than May. Domestic inflation… We expect that there will be tangible progress around the…