Finally some good data for a change
Skerdian Meta • 1 min read
We´re used to seeing disappointing economic data, aren´t we guys? Since the 2008 financial crisis, we have seen many things. At first, there was bankruptcy by some firms, followed by very gloomy data from all the countries. Then, by 2010 the numbers started to improve and we received some mixed signals. But then again, the situation worsened when the global economy entered the second phase of the double bottom crisis by 2012 and then mixed data and so on.
During the 2013-2015 period, we saw some decent numbers from the UK and the US, which made many economists and financial analysts think that the world economy would soon be on its feet. But recently, the US and UK economies have shown some weakness, which brings us back several years ago.
This morning though, we got some positive numbers when we least expected. The Eurozone and Japan finally are showing some signs of life. The Japanese flash manufacturing PMI number early today came out at 50.3. It´s not a great number knowing that 50 is the breakeven point, but at least the Japanese manufacturing sector is not contracting anymore.
A few hours ago the French services also posted a decent number, beating the expectations. The Eurozone manufacturing figures came out above the expectations as well. These are some promising numbers.
Is this the turning point for the Eurozone? It´s still too early to come to a conclusion. We have to see the EU economic data continue like this for a few months in order to consider it a sustainable trend. It´s about time that all the money thrown into the economy by the ECB (European Central Bank) starts impacting the European economy.