US flash manufacturing PMI drops to joint-lowest since 2009

US factories are reporting the worst business conditions for over three years, and one of the worst months since the global financial crisis.
The headline Markit PMI fell from 52.4 in January to 51.0 in February, according to the 'flash' reading, an early cut of the data based on around 85% of expected monthly replies. The February reading matched the post-recession low seen in October 2012.

Japan flash PMI at eight-month low, signals stalling manufacturing sector

Japanese manufacturers reported a near-stalling of business activity in February, according to the Nikkei Flash Japan Manufacturing PMI, with production barely rising as export orders fell at the fastest rate for three years.

US manufacturing output rises for first time in three months

A rebound in official industrial production data in January brings welcome good news on the US economy. Industrial output rose 0.9% in January, according to the Federal Reserve. It was the first increase in six months and the strongest rise since November 2014. Growth in January could have been even stronger, with the Fed noting that "A storm late in the month likely held down production in January by a small amount".

UK households grow dovish on interest rate outlook

Households are feeling less downbeat about their finances, but this appears to be largely a reflection of expectations of interest rates staying low for longer and subdued inflation rather than any pick-up in pay growth. However, modest growth of incomes in recent months also meant households' need for credit has stabilised for the first time since the recession, leading to a further winding down of debt.

UK pay growth remains subdued despite record vacancies and employment rate

The UK employment rate and number of job vacancies have risen to record highs, but the tightening labour market once again failed to drive up wages.

German economic growth remains sluggish in fourth quarter

It was an unspectacular end to 2015 for the German economy, with growth failing to accelerate from the 0.3% seen in the third quarter. PMI survey data meanwhile point to further sluggish growth in January. The start to the year has also seen investors' exposure to German exchange-traded funds (ETF) deteriorate as the outlook darkens.

Oil sector leads UK industrial decline in fourth quarter

UK industrial output slumped in the closing quarter of last year, led down by collapsing production in the energy market and a stagnant manufacturing sector.

Kenya leads the way in Africa at start of 2016

The latest batch of PMI data for Africa, compiled for Standard Bank by Markit, pointed to divergent trends across the continent in January. Kenya's private sector was the standout performer, with growth accelerating to a 13-month high. In contrast, companies in Nigeria saw a substantial slowdown while those in South Africa reported a further downturn.

US unemployment hits eight-year low but hiring trend slows at start of year

Signs of a slowdown in hiring, still-weak annual pay growth and disappointing survey data, all pitched alongside an adverse financial market environment so far this year, reduce the odds of the Fed hiking rates again in March.

Consumer goods sector drives US growth at start of 2016

The first public release of US Sector PMI^(R) data from Markit signalled higher output in all of the monitored sectors apart from consumer services during January. Consumer goods was the best-performing of the sectors monitored. It also registered the fastest growth in new orders and was the only sector to see backlogs increase at the start of 2016.

Stronger services growth offsets manufacturing downturn in China

China's services economy showed signs of renewed life at the start of the year, helping to offset a deepening downturn in the manufacturing sector.

Brazil's downturn shows signs of moderating at start of year

Brazil remained in a state of severe economic contraction at the start of the year, though the downturn showed signs of moderating.

UK PMIs show pick-up in speed in January, but cracks appear in economy's resilience

The UK economy exhibited signs of fortitude in the face of multiple headwinds in January, with growth edging higher despite intensifying uncertainty about the business outlook. However, a slowdown in hiring and waning order books raise doubts about the sustainability of such solid growth.

Eurozone economy slows at start of the year and price fall intensifies

A disappointing eurozone PMI survey for January indicated one of the weakest expansions seen over the past year and raises the prospect of further stimulus.

Czech Republic breaks developed world dominance of manufacturing rankings

Global manufacturing remained in the doldrums at the start of the year, beset by downturns in some of the world’s largest emerging markets.