The last few batches of global production data reaffirm the idea that the world’s economies are intrinsically tied together.
“Major advanced economies, including the United States, United Kingdom, Japan, and the euro zone, have seen expanding manufacturing activities for five consecutive months through November,” writes Guggenheim’s Scott Minerd.
“Benefiting from the recovery in external demand from advanced economies, manufacturing activity in most emerging countries such as China, India, South Africa, and Turkey has also returned to expansion after a slump over the summer. One exception is that manufacturing activities in some commodity-driven countries continue weakening as major commodity prices remain depressed.”
Take a look at Minerd’s chart, which gives a PMI overview. Globally, it seems we’re moving toward accelerated industrial expansion.
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