Don't be so quick to see an upturn coming just because we all desperately want that. The key leading indicators are telling us the exact opposite. This business up-cycle is already 4 years old, which is long in the tooth. A down-cycle is not only expected, but a natural part of the economic processes. If an upturn was coming, then why are we seeing major exporting economies that derive a substantial portion of their GDP from selling to the US and Europe slowing down dramatically. If recovery was coming, then why is the Eurozone a hairswidth from recession and trending worse? No, there's not recovering coming in the next 3 months. That's just wishful thinking.
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Chinese manufacturing activity 'contracts in May'
bbc.co.uk
China's manufacturing activity contracted in May, a survey has shown, indicating that the rate of growth in the economy is continuing to slow.The HSBC Purchasing Managers' Index (PMI) fell to 48.7 from 49.3 in April.The data comes amid fears that a global economic slowdown may hurt demand for China's exports in key markets such as the US and Europe.The PMI is a key indicator of manufacturing activity and a reading below 50 indicates contraction.The HSBC index has remained below that mark for seven straight months now. The official PMI data for May is expected to be released in the first week of June. European business activity falls to near three-year low
bbc.co.uk
Activity at European businesses hit a near three-year low in May, according to a survey by Markit.Its index, based on a survey of purchasing managers in the manufacturing and service sector, fell to 45.9 in May, a 35-month low.
US manufacturing growth slows in May
bbc.co.uk
US manufacturing growth slowed in May as exports weakened, according to a report from research firm Markit.Its purchasing managers index' (PMI) fell to a three-month low of 53.9, down from 56.0 in April. A reading above 50 indicates expansion. Thailand exports fall in April as global demand slows
bbc.co.uk
Thailand has reported a surprise fall in its exports for April because of falling demand from key markets such as Europe and the US.Shipments fell 3.7% from a year earlier. Many analysts had forecast an increase of more than 3%. |
