Global Macro

PMIs register “modest” shipping impact

David Llewellyn-Smith
Thursday, 25 January 2024
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DM trends:

  • The DM composite flash PMI rose by +0.9pt in January to 50.6, led by a +1.9pt increase in the manufacturing component to 48.6 and a +0.8pt increase in the services component to 51.4.
  • Supply chain related manufacturing PMI components deteriorated (possibly due to shipping disruptions in the Red Sea), but current and expected manufacturing output PMIs nonetheless rose in January.

Country-level trends:

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.