Global collapse continues, though you’d never know it watching the stock market:
The official Non-Manufacturing PMI in China unexpectedly inched lower to 54.2 in June, the lowest in six months, from 54.3 in the previous month and missing market consensus of
The Official NBS Manufacturing PMI in China unexpectedly was unchanged at 49.4 in June 2019 and missing market expectations of 49.5. This marked the second straight month of contraction in manufacturing activity
The IHS Markit/CIPS UK Manufacturing PMI fell to 48 in June, the lowest since February 2013 and well below forecasts of 49.2. Production contracted at the fastest pace since October 2012 and new orders dropped the most for almost seven years, amid high stock levels, ongoing Brexit uncertainty, the economic slowdown and rising competition.
The ISM Manufacturing PMI in the US fell to 51.7 in June 2019 from 52.1 in the previous month, beating market expectations of 51.0. Still, the latest reading pointed to weakest pace of
US construction spending fell 0.8 percent from a month earlier at a seasonally adjusted annual rate of USD 1.29 trillion in May 2019, after an upwardly revised 0.4 percent increase in the previous…
Deeper into contraction: