Global manufacturing sector down, saved by the U.S.

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Growth in the global manufacturing industry continued to slow in June. My GDP-weighted manufacturing PMI for the major economies dropped for the fourth consecutive month to 52.8 from 53.1 in May. Out of 19 countries only three experienced faster growth, while the manufacturing sectors in six countries are now contracting.

Due to its weight the jump in the U.S.’s ISM manufacturing PMI to 55.3 from 53.5 in May saved the global manufacturing PMI from a major slide. Australia’s PMI jumped from a contracting 47.7 to 52.9, while Turkey’s PMI jumped by 1.7 points to 52.3. The Eurozone’s PMI slumped to 52.0 from 54.6 in May as growth in the PMI of the two stalwarts, Germany and France, slowed significantly. Germany’s PMI fell by 3.1 points from a robust 57.7 to 54.6 in June, while France’s PMI fell to 52.5 from 54.9. The manufacturing sectors in all of the Eurozone’s problem countries are now contracting, though, with Italy and Ireland following in the footsteps of Greece and Spain.

Although Japan’s PMI weakened to 50.7 from 51.3 in May it still indicates growth in the manufacturing sector after slumping to 45.7 in the aftermath of the country’s twin disasters.

Growth in emerging economies also waned. The manufacturing sectors in Brazil and Taiwan are contracting with the latter faring the worst of all countries, shaving 5 points off May’s relatively robust 54.9. China’s CFLP manufacturing PMI was in line with my earlier expectations based on seasonal weakness.

 

Manufacturing PMI

 

Direction

 

Rate of Change

CountryJune-11May-11
U.S.*****55.353.5GrowingFaster
Eurozone*52.054.6GrowingSlowed significantly
Germany*54.657.7GrowingSlowed significantly
France*52.554.9GrowingSlowed significantly
Greece*45.544.5ContractingSlowed
Italy*49.952.8ContractingFrom growing
Spain*47.348.2ContractingDeeper
Ireland*49.851.8ContractingFrom growing
U.K.*51.352.1GrowingSlowed
Japan*50.751.3Growing, weakSlowed
Australia*52.947.7Growing againFrom contracting
Emerging Economies
Brazil*49.050.8ContractingFrom growing
China**50.952.0Growing, weakSlower
Czech*55.155.9GrowingSlower
Poland*51.252.6GrowingSlower
Turkey*52.350.6GrowingFaster
India*55.357.5GrowingSlower
Russia*50.650.9Growing, weakSlower
Taiwan*49.954.9ContractingFrom growing
RSA***53.955.1GrowingSlower
S Korea51.151.2GrowingSlower
Global****52.853.1GrowingSlower

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

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

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

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Max Keiser: Face to face with Gerald Celente

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In this edition of “On the Edge”, Max Keiser interviews Gerald Celente from TrendsResearch.com. They disciss, among others, how the IMF does business.

Part 1:


Part 2:

Source: Max Keiser, June 24, 2011.

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World map – rearranged by population

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“What if the world were rearranged so that the inhabitants of the country with the largest population would move to the country with the largest area? And the second-largest population would migrate to the second-largest country, and so on?” asks Frank Jacobs on the big think blog.

As shown below, the result is a “disconcerting, disorienting map” with the “differences in population density between countries less extreme than they are today”.

Click here for a larger image.

Source: Frank Jacobs, big think, November 21, 2010 (hat tip: The Big Picture).

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