Don't Pop The Champagne Yet, But Check Out PMI Numbers From The Big 3 Economies

It’s way too early to pop the champagne here, but the latest PMI’s from the big three regions (China, USA and Europe) all showed signs of improvement. ┬áThe recession story is on the back burner in the USA as 10% budget deficits continue to fuel steady, but low growth in the world’s largest economy (via Thomson Reuters):

“While economists still fret about the European economic woes spilling over into the U.S. and creating tailwinds for what remains the world’s largest single economy, it is worth noting that the paths of the manufacturing sectors in the United States, Europe and China appear to be diverging. The chart below compares the results of purchasing managers’ indexes for all three regions. With the last handful of ISM readings, the U.S. manufacturing industry appears to be staging a solid if not spectacular upward move, while both the European and Chinese measurements suggest that manufacturing activity in both is contracting rather than expanding.”


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