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22 matches for " manufacturing capex":
Yesterday's final manufacturing PMIs confirmed that the headline index in the euro area rebounded further last month.
We covered the detailed German Q1 GDP report in Friday's Monitor--see here--but the investment data could do with closer inspection. The headline numbers looked great.
Yesterday's January EZ money supply data offered support for investors betting on a further dovish shift by the ECB at next month's meeting.
The November IFO report suggests that the headline indices are on track for a tepid recovery in Q4 as a whole, but the central message is still one of downside risks to growth
The first economic report of 2020 confirmed the main story in the euro area last year; namely a recession in manufacturing.
Yesterday's sole economic report in the Eurozone confirmed that the economy slowed further at the end of 2018.
The verdict is in.
The final EZ PMI data for November yesterday confirmed that the composite index in the Eurozone rose to an 11-month high of 53.9, from 53.3 in October. The key driver was an improvement in services, boosted by stronger data in all the major economies. Manufacturing activity also improved, though, and the details showed that new business growth was robust in both sectors.
Eurozone manufacturing boosted GDP growth in the first half of the year, and survey data suggest that momentum will be maintained in Q3.
The near-term performance for EZ manufacturing will be a tug-of-war between positive technical factors, and a still-poor fundamental outlook.
The German economy finished last year on the back foot.
Construction in the EZ stumbled at the start of the year.
The Fed paved the way with a 50bp emergency rate cut on March 3, with more to come.
Manufacturing in France rebounded only modestly at the start of Q3, despite favourable base effects.
Manufacturing in France remained on the front foot at the start of Q4.
In this Monitor we'll let the data be, and try to make some sense of the recent market volatility from a Eurozone perspective, with an eye to the implications for the economy and policymakers' actions.
The political situation in Spain remains an odd example of how complete gridlock can be a source of relative stability.
Japan's tertiary index edged up 0.1% month-on-month in July, after the 0.1% decrease in June.
Italy's economy is still bumping along the bottom, after emerging from recession in the middle of last year.
The Spanish economy remains the star performer among the majors in the Eurozone.
Friday' second Q4 GDP estimate revealed that the EZ economy barely grew at the end of 2019. The report confirmed that GDP rose by 0.1% quarter-on-quarter in Q4, slowing from a 0.3% rise in Q3, but the headline only narrowly avoided downward revision to zero, at just 0.058%
Survey data have been signalling a stronger German economy in the last few months, and hard data are beginning to confirm this story. Data yesterday showed that industrial production rose 0.4% month-to-month in November, pushing the year-over-year rate up to 2.2%, from an upwardly-revised 1.6% in October. The headline was boosted mainly by a 1.5% month-to-month jump in construction and a 0.9% rise in intermediate goods production.
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