Recent Updates
- US: Advance Durable Goods (Dec)
- Lebanon: Public Debt (Nov-Prelim)
- Serbia: New Business Loans (Dec)
- Germany: GfK Consumer Climate Survey (Jan)
- France: Registered Unemployment and Vacancies (Dec), Monthly Household
- more updates...
Economy in Brief
U.S. FHFA House Price Index Rose Further in November
The FHFA House Price Index increased 1.0% m/m in November...
U.S. Energy Prices Are Mixed
The price of regular gasoline rose to $2.39 per gallon (-4.5% y/y) in the week ended January 25...
U.K. Retail Survey Shows Extreme Weakness
The CBI U.K. retail volume survey shows dramatically weakened data for January and for the February outlook...
Texas Manufacturing Activity Weakens Further During January
The Dallas Fed reported that its Texas Manufacturing Outlook Survey General Business Activity Index fell to 7.0 during January...
Chicago Fed National Activity Index Improves During December
The Federal Reserve Bank of Chicago's National Activity Index increased to 0.52 during December...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Robert Brusca June 1, 2009
The UK MFG
PMI is up to a level of 45.37, the second highest reading in this group
of EU/EMU reporters (Greece is the highest). The UK index also is 10%
from its cycle high and 10% above its cycle low. The EMU measure is 17%
from its high and 7% up from its low.
The UK MFG measure is up an EU best gain of 10.4 points
over the past three months. France Germany and Spain have the next best
increases up by 8.5, 7.98 and 7.44 points respectively.
Europe is
improving, but the UK seems to be making the strongest MFG rebound so
far.
With the release of the US MFG PMI on Monday, the US index shows that it continues to hold its lead on Europe, signaling that the US recovery remains in the vanguard of the global expansion. It has about a four-month head start on EMU but its lead in terms of the level of the PMI index itself is small. The UK MFG rise has been ahead of the US sector for the past few months but that sector does not carry the global punch that the US does.
Markit MFG Indexes | |||||||
---|---|---|---|---|---|---|---|
May-09 | Apr-09 | Mar-09 | 3Mo | 6Mo | 12Mo | Percentile | |
Euro-Area | 40.68 | 36.83 | 33.93 | 37.15 | 35.55 | 39.92 | 29.5% |
Germany | 39.58 | 35.40 | 32.36 | 35.78 | 34.02 | 40.26 | 27.7% |
France | 43.32 | 40.10 | 36.51 | 39.98 | 37.93 | 40.87 | 38.0% |
Italy | 41.11 | 37.21 | 34.59 | 37.64 | 36.58 | 39.82 | 28.5% |
Spain | 39.83 | 34.61 | 32.92 | 35.79 | 33.20 | 35.31 | 39.5% |
Austria | 39.30 | 38.97 | 33.68 | 37.32 | 35.78 | 40.53 | 24.0% |
Greece | 46.08 | 40.88 | 38.17 | 41.71 | 40.83 | 45.34 | 46.3% |
Ireland | 39.35 | 36.10 | 35.12 | 36.86 | 36.76 | 39.50 | 27.8% |
EU | |||||||
UK | 45.37 | 43.07 | 39.51 | 42.65 | 39.17 | 40.44 | 48.7% |
percentile is over range since March 2000 |