Global Economic Indicators: Global Purchasing Managers Indexes Yardeni Research, Inc.
January 5, 2017
Dr. Edward Yardeni 516-972-7683
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Debbie Johnson 480-664-1333
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Mali Quintana 480-664-1333
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Please visit our sites at www.yardeni.com blog.yardeni.com
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Table Of Contents
Table Of Contents
Global Composite Indexes Global Manufacturing PMIs Global Non-Manufacturing PMIs Eurozone PMIs Global Manufacturing & Non-Manufacturing PMIs
January 5, 2017 / Global Purchasing Managers Indexes
1 2 3 4-5 6-7
Yardeni Research, Inc. www.yardeni.com
Global Composite Indexes Figure 1. 58
58
PURCHASING MANAGERS INDEXES: GLOBAL (sa)
Composite Index (53.4)
56
56
Manufacturing (52.7) Non-Manufacturing (53.3)
54
54 Dec
52
52
50
50
yardeni.com
48 2011
2012
2013
2014
2015
2016
48
2017
Source: Markit and Haver Analytics.
Figure 2. 60
60
HSBC EMERGING MARKETS COMPOSITE PMI (50+ = expansion, sa)
58
58
Composite (52.1) 56
56
54
54
Dec
52
52
50
48
50
yardeni.com 2011
48 2012
2013
2014
2015
2016
2017
Source: HSBC, Markit, and Haver Analytics.
Page 1 / January 5, 2017 / Global Purchasing Managers Indexes
Yardeni Research, Inc. www.yardeni.com
Global Manufacturing PMIs Figure 3. 62
62
PURCHASING MANAGERS INDEXES*
60
60
58
58 Dec
56
56
54
54
52
52
50
50
Manufacturing PMIs
48
48
US (54.7) UK (56.1)
46
46
Eurozone (54.9) 44
44
Japan (52.4) yardeni.com
42 2011
2012
2013
2014
2015
2016
42
2017
* An index above 50 indicates an increase in manufacturing activity. An index below 50 indicates a decrease in manufacturing activity. Source: Institute for Supply Management, CIPS, Markit, and Haver Analytics.
Figure 4. 62
62
PURCHASING MANAGERS INDEXES* Manufacturing PMIs
60
60
China (51.4) 58
58
India (49.6) Brazil (45.2)
56
56
Russia (53.7) 54
54
52
52
Dec
50
50
48
48
46
46
44
44
42
42 yardeni.com
40 2011
2012
2013
2014
2015
2016
40
2017
* An index above 50 indicates an increase in manufacturing activity. An index below 50 indicates a decrease in manufacturing activity. Source: HSBC, Markit, and Haver Analytics.
Page 2 / January 5, 2017 / Global Purchasing Managers Indexes
Yardeni Research, Inc. www.yardeni.com
Global Non-Manufacturing PMIs Figure 5. 65
65
PURCHASING MANAGERS INDEXES*
60
60 Dec
55
55
50
50
45
45
Non-Manufacturing PMIs US (57.2) UK (56.2)
40
40
Eurozone (53.7) Japan (52.3)
35
35
yardeni.com
30 2011
2012
2013
2014
2015
2016
30
2017
* An index above 50 indicates an increase in manufacturing activity. An index below 50 indicates a decrease in manufacturing activity. Source: Institute for Supply Management, CIPS, Markit, and Haver Analytics.
Figure 6. 65
65
PURCHASING MANAGERS INDEXES*
60
60
55
55
50
50
45
Dec
Non-Manufacturing PMIs
45
China (53.4) India (46.8)
40
40
Brazil (45.1) yardeni.com
35 2011
2012
2013
2014
2015
2016
35
2017
* An index above 50 indicates an increase in manufacturing activity. An index below 50 indicates a decrease in manufacturing activity. Source: HSBC, Markit, and Haver Analytics.
Page 3 / January 5, 2017 / Global Purchasing Managers Indexes
Yardeni Research, Inc. www.yardeni.com
Eurozone PMIs Figure 7. 70
70
EUROZONE PURCHASING MANAGERS FINAL & FLASH ESTIMATES* Composite Output Indexes
65
65
Eurozone (Dec=54.4) Germany (Dec=55.2) France (Dec=53.1) Italy** (Dec=52.9) Spain** (Dec=55.5)
60
60
55
55
Dec
50
50
45
45
40
40
35
yardeni.com 2011
35 2012
2013
2014
2015
2016
2017
* An index above 50 indicates an increase in manufacturing activity. An index below 50 indicates a decrease in manufacturing activity. ** Flash estimates not available for Italy and Spain. Source: Markit and Haver Analytics.
Figure 8. 65
65
EUROZONE MANUFACTURING PURCHASING MANAGERS INDEXES FINAL & FLASH ESTIMATES* Eurozone (Dec=54.9) Germany (Dec=55.6) France (Dec=53.5) Italy** (Dec=53.2) Spain** (Dec=55.3)
60
60
55
55
50
50
45
45
40
yardeni.com 2011
40 2012
2013
2014
2015
2016
2017
* An index above 50 indicates an increase in manufacturing activity. An index below 50 indicates a decrease in manufacturing activity. ** Flash estimates not available for Italy and Spain. Source: HSBC, Markit, and Haver Analytics.
Page 4 / January 5, 2017 / Global Purchasing Managers Indexes
Yardeni Research, Inc. www.yardeni.com
Eurozone PMIs Figure 9. 70
70
EUROZONE NON-MANUFACTURING PURCHASING MANAGERS FINAL & FLASH ESTIMATES* Non-Manufacturing PMIs
65
65
Eurozone (Dec=53.7) Germany (Dec=54.3) France (Dec=52.9) Italy** (Dec=52.3) Spain** (Dec=55.0)
60
60
55
55
Dec
50
50
45
45
40
40
35
yardeni.com 2011
35 2012
2013
2014
2015
2016
2017
* An index above 50 indicates an increase in manufacturing activity. An index below 50 indicates a decrease in manufacturing activity. ** Flash estimates not available for Italy and Spain. Source: Markit and Haver Analytics.
Page 5 / January 5, 2017 / Global Purchasing Managers Indexes
Yardeni Research, Inc. www.yardeni.com
Global Manufacturing & Non-Manufacturing PMIs Figure 10. 70
60
PURCHASING MANAGERS INDEXES*
65
Eurozone
United States
Dec
55
60 Dec
55
50
50 45
Manufacturing Non-Manufacturing
45 40
40 2011
2012
2013
2014
2015
2016
2017
2011
2012
2013
2014
2015
2016
2017
60
65
55
60
Germany
Dec
Dec
50 45
55 50
Japan 40
45
35
40 2011
2012
2013
2014
2015
2016
2017
2011
2012
2013
2014
2015
2016
2017
60
65 60
France 55 Dec
55 50
Oct
50
45
China 45
40 2010
2011
2012
2013
2014
2015
2016
2011
2012
2013
2014
2015
2016
2017
65
60
United Kingdom
60
Italy 55 Dec Dec
55
50
50
45 yardeni.com
45 2011
2012
2013
2014
2015
2016
2017
2011
2012
2013
2014
2015
2016
40
2017
* An index above 50 indicates an increase in manufacturing activity. An index below 50 indicates a decrease in manufacturing activity. Source: Institute for Supply Management, CIPS, HSBC, Markit, and Haver Analytics.
Page 6 / January 5, 2017 / Global Purchasing Managers Indexes
Yardeni Research, Inc. www.yardeni.com
Global Manufacturing & Non-Manufacturing PMIs Figure 11. 60
60
PURCHASING MANAGERS INDEXES* China
55
55
Dec
Composite of Manufacturing and Non-Manufacturing PMIs 50
50 2010
2011
2012
2013
2014
2015
2016
2017
65
65
India 60
60
55
55
50
50 Dec
45
45 2011
2012
2013
2014
2015
2016
2017
60
55
60
Brazil
55
50
50
Dec
45
45
40
40
35
35 2011 2012 2013 2014 2015 2016 * An index above 50 indicates an increase in manufacturing activity. An index below 50 indicates a decrease in manufacturing activity. Source: HSBC, Markit, and Haver Analytics.
Page 7 / January 5, 2017 / Global Purchasing Managers Indexes
2017
Yardeni Research, Inc. www.yardeni.com
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