Manufacturing PMI round-up leading into the U.S. numbers
NEW YORK (Mar 1) Heading into the U.S. session manufacturing data has been pretty mixed in Europe. The U.K. number beat estimates and the flash reading of 57.3 to print at 58. The manufacturing output hit its highest level in 6 months as global supply chain pressures began to ease and factories largely shrugged off a wave of cases caused by the Omicron variant of coronavirus. The report said, "Although supply chain constraints continued to stymie growth, there were signs that these were past their peak, a factor contributing to a slight easing in purchase price inflation,". It was not all positive as the report also noted "Although supply chain constraints continued to stymie growth, there were signs that these were past their peak, a factor contributing to a slight easing in purchase price inflation,".
Elsewhere, European readings were not bad but most of them were very close to the flash estimates or previous numbers. Leading into the months ahead there could be huge issues ahead as the Russian/Ukraine conflict intensifies. Germany has close ties with Russia and is dependent on the nation for energy. As costs rise in the commodities markets this would surely have an impact on the manufacturing sector and the wider economy. Later in the session, the market will get the latest numbers from the U.S. the ISM figure is expected to reach 58 and the non-ISM 57.5 rising from 55.5.
Australian AIG Manufacturing Index (Feb) 53.2 vs prev 48.4
Japanese Manufacturing PMI (Feb) 52.7 vs exp 52.9 prev 55.4
China Manufacturing PMI (Feb) 50.2 vs exp 49.9 prev 50.1
Chinese Caixin Manufacturing PMI (Feb) 50.4 vs exp 49.5 prev 49.1
Russian Markit Manufacturing PMI (Feb) 48.6 prev 51.8
Italian Manufacturing PMI (Feb) 58.3 vs exp 58.0 prev 58.3
French Manufacturing PMI (Feb) 57.2 vs exp 57.6 prev 55.5
Norway Manufacturing PMI (Feb) 55.9 prev 56.3
German Manufacturing PMI (Feb) 58.4 vs exp 58.5 prev 59.8
EZ Manufacturing PMI (Feb) 58.2 vs exp 58.4 prev 58.7
U.K. Manufacturing PMI (Feb) 58.0 vs exp 57.3 prev 57.3.
KITCO
