A preliminary heads up for a snapshot of how bad the damage is going to be to the global economy
Flash PMIs are due from
- the US
- Eurozone
- Germany
- France
- the UK
- and Japan
On the 23rd.
We have seen from China the value of the economists estimates for the PMIs, that is not much as results plunged far below the median expectations.
March PMI data showed record rates of collapse in the UK and Eurozone
- Japan contracted at the fastest rate in 10 years
- For the US, its steepest downturn since the GFC
For April the results will likely be even worse. Business closures & social distancing measures were accelerated in the month.
US
- manufacturing expected 38.0
- services expected 31.3
Eurozone
- manufacturing expected 38.0
- services expected 23.0
- composite expected 25.5
Germany
manufacturing expected 39.0
services expected 28.1
composite expected 28.8
France
manufacturing expected 37.5
services expected 25.0
composite expected 25.3
UK
manufacturing expected 42.0
services expected 28.5
composite expected 31.0
Japan … no survey 'expected's as yet
