October Was An Impressive Month For The World Economy

Statue sail boats horizonREUTERS/Stefano RellandiniSailing boats gather at the start of the Barcolana regatta in front of Trieste harbour October 13, 2013.

HEADS UP: The world’s major economies are publishing their October manufacturing PMI reports, and this is our scorecard.

So far, that numbers have been unexpectedly encouraging.

Uncertainty was high during the month as he U.S. — the world’s largest economy — spent most of the month with its government shut down as Congress struggled to cobble together a budget deal.

Congress eventually cobbled together a deal, but the fiscal uncertainties linger.

“[T]he most likely outcome in both the US and euro area is that policymakers will do enough to avert a crisis, even if this involves further ‘kicking the can down the road,'” said Citi’s Willem Buiter.

However, the Chicago PMI report blew away expectations, surging to a two-year high of 65.9 in October from 55.7 in September. “The government might have shut down but Chicago area companies powered ahead in October as orders and production surged,” said Philip Uglow of MNI Indicators.

Meanwhile in Asia, the sustainability of China’s growth rates remain in doubt and liquidity concerns continue to linger in the emerging markets.

However, the official and unofficial Chinese manufacturing PMI’s climbed, signaling an acceleration in growth.

Indeed, as you can see below, almost all of the Asian PMI reports showed significant improvement.

The PMI reports will continue to come out through November 4.


At the beginning of each month, Markit, HSBC, RBC, JP Morgan, and several other major data gathering institutions publish the latest local readings of the manufacturing purchasing managers index (PMI) for countries around the world. Read more about it at Markit.


Click here to refresh this page for the latest updates to our scorecard »

October 30 (All Times ET)

October 31, November 1

November 4

  • 4 a.m. Poland: HSBC Manufacturing PMI

  • 4:15 a.m. Spain: Markit Manufacturing PMI

  • 4:45 a.m. Italy: Markit/ADACI Manufacturing PMI
  • 4:50 a.m. France: Markit Manufacturing PMI
  • 4:55 a.m. Germany: Markit/BME Manufacturing PMI

  • 5 a.m. Eurozone: Markit Manufacturing PMI
  • 11 a.m. Global: JPMorgan Manufacturing PMI

Click here to refresh this page for the latest updates to our scorecard »

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