Manufacturing Day Today, but Things Don’t Look Promising for This Sector on A Global Scale - Forex News by FX Leaders

Manufacturing Day Today, but Things Don’t Look Promising for This Sector on A Global Scale

Posted Monday, June 3, 2019 by
Skerdian Meta • 1 min read

Today has been a manufacturing day for economists. We basically had all major economies of the world post their manufacturing reports today and even had two such reports being released form the US. Manufacturing has been weakening across the globe since the trade war between US and China started last year,so the numbers are not good. Have a look for yourself:

Manufacturing DataActualExpectedPrevious
Japanese Final Manufacturing49.849.749.6
Chinese Caixin Manufacturing50.25050.2
Spanish Manufacturing PMI50.151.451.8
French Manufacturing PMI50.650.650.6
Swiss Manufacturing PMI48.649.148.5
Italian Manufacturing PMI49.748.549.1
German Manufacturing PMI44.344.344.3
Eurozone Manufacturing PMI47.747.747.7
UK Manufacturing PMI49.452.553.1
Canadian Manufacturing PMI49.149.7
US Final Manufacturing PMI50.550.850.6
US ISM Manufacturing PMI52.15353.1

 

Three numbers are green, which means that they were better than expectations, but to of them still show contraction, in Italy and in Japan. The rest of the board then speaks for itself. Germany remains in deep contraction as well as the Eurozone, while in May the UK joined this group. The trade war is escalating and two more fronts are about to be open, one between the US and Mexico while the other one is with the EU. So, things are expected to get worse as the US heads in that direction too.

 

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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