US monetary policy is restrictive, as evidenced by a falling jobs-workers gap. The reason that unemployment has not risen is because labor demand still exceeds supply. That will change in the second half of 2024 when the US economy…
The US PPI report came in hotter-than-anticipated in September. Although the headline index decelerated from 0.7% m/m to 0.5% m/m, it remains above expectations of a more pronounced moderation to 0.3% m/m. In particular, a 3.3% m…
Taiwanese exports unexpectedly grew for the first time in just over a year in September – sending a positive signal about the global manufacturing cycle. The 3.4% y/y increase surprised anticipations of a moderation in the…
According to BCA Research’s European Investment Strategy service, European automobile and components stocks will suffer over the coming years. The European automobile and components equity sector is cheap, trading at a…
As we highlighted in a recent Insight, the stronger-than-anticipated improvement in German factory orders should be viewed with some degree of caution. Germany is the European economy most exposed to the global manufacturing…
August brought some respite for German factories struggling with poor demand this year. After falling by 11.3% m/m in the prior month, German factory orders rebounded by 3.9% m/m in August – beating expectations of a 1.5% m…
The results of the Bank of England’s latest monthly Decision Maker Panel survey reduces pressure on policymakers to tighten further. Business expectations regarding output price inflation over the coming year fell from 5…
The Caixin and NBS PMIs sent mixed signals about Chinese economic conditions in September. The NBS results surprised to the upside on the back of slightly greater-than-anticipated increases in both the manufacturing (+0.5 to…
The Global Manufacturing PMI ticked up by a marginal 0.1 point to 49.1 in September, indicating that manufacturing activity deteriorated at a slightly slower pace than in August. However, several of the details of the report were…