Manufacturing Day Today, but Things Don’t Look Promising for This Sector on A Global Scale
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 Data | Actual | Expected | Previous |
| Japanese Final Manufacturing | 49.8 | 49.7 | 49.6 |
| Chinese Caixin Manufacturing | 50.2 | 50 | 50.2 |
| Spanish Manufacturing PMI | 50.1 | 51.4 | 51.8 |
| French Manufacturing PMI | 50.6 | 50.6 | 50.6 |
| Swiss Manufacturing PMI | 48.6 | 49.1 | 48.5 |
| Italian Manufacturing PMI | 49.7 | 48.5 | 49.1 |
| German Manufacturing PMI | 44.3 | 44.3 | 44.3 |
| Eurozone Manufacturing PMI | 47.7 | 47.7 | 47.7 |
| UK Manufacturing PMI | 49.4 | 52.5 | 53.1 |
| Canadian Manufacturing PMI | 49.1 | 49.7 | |
| US Final Manufacturing PMI | 50.5 | 50.8 | 50.6 |
| US ISM Manufacturing PMI | 52.1 | 53 | 53.1 |
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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