Tiho Brkan | Mar 03, 2015 08:38AM ET
Leading Indicators
Chart 1 & 2: US manufacturing continues to expand at more robust level
(Source: Short Side of Long)
h3 Chart 3: Chinese economic activity is showing signs of bottoming out/h3
The global manufacturing sector expanded for the twenty-seventh consecutive month in February. The rate of output growth accelerated to a six-month high, as companies scaled up production to meet rising levels of new work and new export orders. The J.P.Morgan Global Manufacturing PMI rose to 52.0 in February, from 51.7 in January.
The US remained a prime driver of the global manufacturing upturn, as the US PMI rose to a four-month high. Growth was seen across much of the European manufacturing sector in February, with the strongest pockets of expansion registered in the UK. Growth was also signalled in Germany. Completing the picture of modest, yet broad-based expansion across the global manufacturing sector were the performances of the Asian nations. Mild growth was signalled in China and Japan.
Get The News You WantRead market moving news with a personalized feed of stocks you care about.Get The AppComposite leading indicators (CLIs) point to tentative signs of a positive change in growth momentum in the euro area, particularly in Germany and Spain. In Italy, the CLI also points to improvements, with this month’s CLI pointing to stable growth momentum compared to weakening momentum last month. The outlook for France is unchanged from last month’s assessment, with stable growth momentum anticipated.
The CLIs indicate stable growth momentum also in the OECD area as whole and in some of the major economies, including the United States, Canada, Japan, China and Brazil. In the United Kingdom, the CLI points to an easing in growth momentum, though from relatively high levels. The CLI for India indicates firming growth while in Russia the CLI continues to point to a loss in growth momentum.
Chart 4: US leading economic indicators are giving us a mixed picture
(Source: Short Side of Long)
(Source: Short Side of Long)
(Source: Short Side of Long)
(Source: Short Side of Long)
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