Global PMI Scorecard: Services sector drives acceleration in global growth

 EmailPrint This Post Print This Post

Growth in global economic activity continued to accelerate for the fourth consecutive month in February. Highlights of the February PMIs are as follows:

  • The JP Morgan Global Composite PMI increased to 55.5 from 54.5 In January.
  • The JP Morgan Global Services PMI jumped to a rather robust 56.5 from 55.4 in January.
  • Growth in the global manufacturing sector slowed markedly, mostly as a result of a sharp slowdown in the U.S.
  • After stabilizing in January the Eurozone economy is sliding again as the situation in Italy, Spain and Greece has worsened.
  • Growth in the BRICS countries is accelerating, especially in larger China.
  • Pockets of robust growth are emerging:
    • U.S. non-manufacturing sector
    • India’s manufacturing and services sectors
    • Brazil’s services sector
    • South Africa’s manufacturing sector
    • Saudi Arabia’ overall economy.
 

GDP-weighted Composite PMI

 

Direction

 

Rate of change

CountryFeb-12Jan-12Dec-11
U.S.***56.256.252.7GrowingSame
U.S. BAI***(note 1)60.258.254.9GrowingFaster
Eurozone****48.950.048.3ContractingFrom stalling
Germany*53.253.951.3GrowingSlower
France*50.251.250.0Stalling againSlower
Italy****45.045.344.4ContractingFaster
Spain****42.745.842.5ContractingFaster
U.K.****53.154.952.8GrowingSlower
Japan*51.251.150.1GrowingSlightly faster
Australia47.951.849.3ContractingFrom growing
Emerging Economies
China**50.051.552.6StallingSlower
China S/A**54.253.152.4GrowingFaster
Brazil*55.553.853.2GrowingFaster
India*57.859.654.7Growing/robustSlower
Russia*53.754.453.5GrowingSlower
Hong Kong*52.851.949.7GrowingFaster
UAE*52.052.451.7GrowingSlower
Saudi Arabia*59.660.057.7Growing/robustSlower
JP Morgan Global Composite*  

55.5

 

54.5

 

52.7

 

Growing

 

Faster

Note: ISM Non-manufacturing Business Activity Index used instead of Non-manufacturing PMI
Sources: *Markit; **CFLP, Li & Fung, Plexus Asset Management; ***ISM, Plexus Asset Management; ****Markit, Plexus Asset Management.

Non-Manufacturing/Services PMIDirectionRate of Change
CountryFeb-12Jan-12Dec-11
U.S.*****57.356.852.6GrowingFaster
U.S. BAI***** 62.659.555.5Growing/robustFaster
Eurozone*48.850.448.8ContractingFrom growing
Germany*52.853.752.4GrowingSlower
France*50.052.350.3StallingFrom growing
Italy*44.144.844.5ContractingFaster
Spain*41.946.142.1ContractingMuch faster
Ireland*53.348.348.4GrowingFrom contracting
U.K.*53.856.054.0GrowingSlower
Japan*51.251.050.4GrowingFaster
Australia*46.751.949.0 

ContractingFrom growing
Emerging Economies
Brazil*57.155.054.8Growing/RobustFaster
China**48.452.956.0ContractingFrom growing
China S/A57.656.355.3GrowingFaster
India*56.558.054.2RobustSlower
Russia*55.356.553.8GrowingSlower
JP Morgan Global Services*****56.555.453.0 

GrowingFaster

Sources: Markit*; Li & Fung**; Kagiso***; Plexus Asset Management****; ISM*****.

 

Manufacturing PMI

DirectionRate of Change
CountryFeb-12Jan-12Dec-11
U.S.*****52.454.153.1GrowingSlower
Eurozone*49.048.846.9ContractingSlower
Germany*50.251.048.4StallingFrom growing
France*50.048.548.9StallingFrom contracting
Greece*37.741.042.0ContractingFaster
Italy*47.846.844.3ContractingSlower
Spain*45.045.143.7ContractingFaster
Ireland*49.748.348.6ContractingSlower
U.K.*51.252.049.7GrowingSlower
Japan*50.550.750.2GrowingSlower
Australia*51.3 51.650.2GrowingSlower
Emerging Economies
Brazil*51.450.649.1GrowingFaster
China**51.050.550.3GrowingFaster
China SA****51.951.050.5GrowingFaster
Czech*50.548.449.2GrowingFrom contracting
Poland*50.052.248.8StallingFrom growing
Turkey*49.651.752.0ContractingFrom growing
India*56.657.554.2RobustSlower
Russia*50.750.851.6GrowingSlower
Taiwan*52.748.947.1GrowingFrom contracting
RSA***57.953.249.4RobustFaster
Global****50.8 51.550.3GrowingSlower

Sources: Markit*;.Li & Fung**; Kagiso***; Plexus Asset Management****;.ISM*****.

Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail.

OverSeas Radio Network

Leave a Reply

  

  

  

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Top 100 Financial Blogs

Recent Posts

Charts & Indexes

Gold Price (US$)

Don Coxe’s Weekly Webcast

Podcast – Dow Jones


One minute - every hour - weekdays
(requires Windows Media Player)
newsflashr network
National Debt Clock

Calendar of Posts

March 2012
MTWTFSS
« Feb Apr »
 1234
567891011
12131415161718
19202122232425
262728293031 

Feed the Bull