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1 Sep 2015
Emerging markets PMI disappoints - TDS
Fxstreet (Delhi) – Analysts at TD Securities note that the EM manufacturing PMIs for August came in on the weak end of expectations today and disappointed the EM investor’s fraternity.
Key Quotes
“Both India and Indonesia had figures softer than in July, with India at 52.3 (still a decent reading) while Indonesia improved to 48.4.”
“In EMEA, Russia, Turkey and South Africa all disappointed with their respective data at 47.9, 49.3 (so Turkey falls below 50 again, showing economic activity struggling to get traction) and 48.9 (back to contraction territory after three consecutive months with PMIs above 50).”
“Hungary improved to 50.7 while Poland fell sharply to 51.1 from 54.5 (significantly below the expected 54.2).”
Key Quotes
“Both India and Indonesia had figures softer than in July, with India at 52.3 (still a decent reading) while Indonesia improved to 48.4.”
“In EMEA, Russia, Turkey and South Africa all disappointed with their respective data at 47.9, 49.3 (so Turkey falls below 50 again, showing economic activity struggling to get traction) and 48.9 (back to contraction territory after three consecutive months with PMIs above 50).”
“Hungary improved to 50.7 while Poland fell sharply to 51.1 from 54.5 (significantly below the expected 54.2).”