Post by jeffolie on Nov 3, 2012 11:57:29 GMT -6
US decouples? 5th mo decline worldwide manufacturing
The strongest economic countries failed to decouple from the rest of the world during the Great Depression and the Long Depression [1870 to 1900].
America delayed the impact of the Great Depression for 1 year before the worldwide Great Depression spread to the most common Americans ... How? answer: exporting continued because of the devaluing Dollar...
Decoupling from worldwide manufacturing decline appeared to work for Germany until just 2 months ago ... not so much anymore as Germany manufacturing is also now in decline
my jeffolie view: America's small portion of its economy from manufacturing is hurting and dents the Services Economy also labelled the FIRE Economy. Sandy will hurt the 4th qtr GDP and assist when recover funds become construction in the Spring or Summer. America can not decouple from the world.
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November 03, 2012 3:02 AM
Global Manufacturing Contracts 5th Consecutive Month
Markit reports Global manufacturing contracts for fifth consecutive month
The downturn in the global manufacturing sector moderated in October. The JPMorgan Global Manufacturing PMI™ – a composite index produced by JPMorgan and Markit in
association with ISM and IFPSM – rose for the second month running to reach 49.2, its highest reading during the current five-month period of contraction.
The sector continued to report declining volumes of production and new orders, although rates of contraction were slower than in the previous month.
Signs of excess capacity were present in the global manufacturing sector during October. This was highlighted by a further marked reduction in backlogs of work, which
fell for the seventeenth successive month and at the joint-fastest rate during that period.
Global PMI
1.bp.blogspot.com/-yKfQe3biv6s/UJTN_KwqgcI/AAAAAAAAScs/Cw60BIrf1wo/s1600/Markit%2Bglobal%2BPMI.png
Manufacturing is leading this global decline. Retail and services will follow.
I have very little to add here other than a note that this certainly was not unexpected in this corner
Read more at globaleconomicanalysis.blogspot.com/2012/11/global-manufacturing-contracts-5th.html#cwO3gr6PP7eZKJKk.99
The strongest economic countries failed to decouple from the rest of the world during the Great Depression and the Long Depression [1870 to 1900].
America delayed the impact of the Great Depression for 1 year before the worldwide Great Depression spread to the most common Americans ... How? answer: exporting continued because of the devaluing Dollar...
Decoupling from worldwide manufacturing decline appeared to work for Germany until just 2 months ago ... not so much anymore as Germany manufacturing is also now in decline
my jeffolie view: America's small portion of its economy from manufacturing is hurting and dents the Services Economy also labelled the FIRE Economy. Sandy will hurt the 4th qtr GDP and assist when recover funds become construction in the Spring or Summer. America can not decouple from the world.
======================================
November 03, 2012 3:02 AM
Global Manufacturing Contracts 5th Consecutive Month
Markit reports Global manufacturing contracts for fifth consecutive month
The downturn in the global manufacturing sector moderated in October. The JPMorgan Global Manufacturing PMI™ – a composite index produced by JPMorgan and Markit in
association with ISM and IFPSM – rose for the second month running to reach 49.2, its highest reading during the current five-month period of contraction.
The sector continued to report declining volumes of production and new orders, although rates of contraction were slower than in the previous month.
Signs of excess capacity were present in the global manufacturing sector during October. This was highlighted by a further marked reduction in backlogs of work, which
fell for the seventeenth successive month and at the joint-fastest rate during that period.
Global PMI
1.bp.blogspot.com/-yKfQe3biv6s/UJTN_KwqgcI/AAAAAAAAScs/Cw60BIrf1wo/s1600/Markit%2Bglobal%2BPMI.png
Manufacturing is leading this global decline. Retail and services will follow.
I have very little to add here other than a note that this certainly was not unexpected in this corner
Read more at globaleconomicanalysis.blogspot.com/2012/11/global-manufacturing-contracts-5th.html#cwO3gr6PP7eZKJKk.99