Photo: Bill Pugliano/Getty Images
With this fresh batch of Flash PMI numbers, it couldn’t be more clear that the US economy is the strongest in the world.The Chinese Flash PMI fell to a 9-month low.
Germany’s Flash PMI came in at 45.1. That’s a bit above the previous month, but still well below 50, meaning its in contraction.
The US on the other hand rose from 51.4 to 51.9, and lots of the internal numbers were good, including New Orders.
That’s consistent with other data, which shows the US economy improving over the last month and a half. Included in that is solid housing data, improving initial claims, and a bounce-back in retail sales.
Probably our favourite chart to demonstrate the US’ outperformance actually came from Japan.
It shows the year-over-year change in Japanese exports to China, the US and Europe.
Only the US is in positive territory.
And going back to the PMIs for a moment, Reuters’ Scotty Barber just tweeted out this comparison:
Photo: Scotty Barber, Reuters
There’s a lot not to like about the US economy (8.3% unemployment most prominently), and there’s a decent chance that the weakness around the globe will continue to spill over onto our shores, but compared to the crap-show in the rest of the world, the US is doing alright.
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