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Tag Archives: BRIC PMI

6/6/21: BRIC PMIs for May: Volatile Growth and Surging Inflationary Pressures

BRIC PMIs for May 2021 show uneven pace of recovery within the group of the largest Merging and Middle Income economies and a uniform evidence of pressure on inflation side.Brazil: Manufacturing PMI is currently running at 53.0 for 2Q 2021 for two months into the quarter, down from 1Q 2021 reading of 55.9. This marks second consecutive quarter of decreases in Manufacturing sector activity in Brazil. Brazil Services PMI is currently running at a deeper recessionary reading of 45.6, compared...

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13/5/21: BRIC Composite PMIs April 2021: Recovery Fragile, Inflation Heating Up

April PMIs for BRIC economies show continued strengthening in the recovery in China and Russia, moderation in the recovery momentum in India and deepening collapse in the recovery in Brazil.Since we are into the first month of the new quarter, there is not enough data to go about to meaningfully analyze quarterly dynamics. Hence, I am only looking at Composite PMIs:PMIs in April run stronger, compared to 1Q 2021 averages for Russia (Services only), and China (Services and Manufacturing),...

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8/4/21: BRIC Composite PMIs 1Q 2021: A Mixed Bag for Recovery Votes

I covered BRIC Manufacturing PMIs for 1Q 2021 (https://trueeconomics.blogspot.com/2021/04/5421-brics-manufacturing-pmis-1q-2021.html) and BRIC Services PMIs (https://trueeconomics.blogspot.com/2021/04/8421-bric-services-pmi-1q-2021-slowing.html) in the two posts earlier.  Now, the round up analysis based on Composite PMIs:Brazil Composite PMI fell from 54.4 in 4Q 2020 to 52.1 in 1Q 2021, marking a slowdown in growth conditions in the economy. Quarterly activity in 1Q 2021 is still ahead of...

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8/4/21: BRIC Services PMI 1Q 2021: Slowing Growth Momentum

 Earlier this week, I posted on the latest PMI reports for BRIC economies for Manufacturing sector (https://trueeconomics.blogspot.com/2021/04/5421-brics-manufacturing-pmis-1q-2021.html).  Now, let's cover Services Sector 1Q 2021 PMIs. Remember, Markit - source of data - cover only monthly PMIs.As reminder, Manufacturing PMIs fell in all BRIC economies except for Russia in 1Q 2021 compared to 4Q 2020. As the result, overall, BRIC Manufacturing Activity Index (GDP-weighted average of PMIs)...

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4/8/20: BRIC: Manufacturing PMIs

BRIC Manufacturing PMIs are out for July and the numbers are bizarre:Brazil is going parabolic? The country is absolutely devastated by COVID19, although the Government is hell-bent on Malthusian 'let them mind their own health or die' tactic. And its Manufacturing PMI came in at a world-leading 58.2 in July, up on weak growth-signalling 51.6 in June. This is the highest monthly reading on record for Brazil. It is such an outlier, in terms of historical record, in terms of recent pre-COVID19...

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4/5/20: BRIC Manufacturing PMI: April

Coronavirus pandemic has finally bitted deeply into the BRICs economic activity data, with April 2020 manufacturing PMIs coming in sharp down: Combined, GDP-weighted average Manufacturing PMI for Brazil, Russia, India and China came in at 41.4 in April 2020, down from 49.1 in 1Q 2020 and 51.2 in 4Q 2019. Sharp declines in Brazil Manufacturing PMI (down to 36.0 in April, compared to 50.6 in 1Q 2020), Russia (down from an already-recessionary 47.9 in 1Q 2020 to 31.3 in April), and India...

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2/3/20: BRIC Manufacturing PMI: February 2020

A quick post: Manufacturing PMIs are out for the BRIC economies and, unsurprisingly, things are tanking in China and remain seriously under pressure in Russia: This is the first snapshot of the effects of Coronavirus #COVID19 #CoronaOutbreak on Chinese top-level economic activity figures. The data plotted above is quarter-based averages of the monthly indicator published by Markit. The BRIC quarterly index is computed by me using relative economy size weights for each BRIC economy. In...

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7/1/20: BRIC Composite PMIs 4Q 2019

Composite Global economic activity, as measured by Composite PMI has slowed down markedly in 2019 compared to 2018. In 2018, average Composite Global PMI (using quarterly averages) stood at 53.6. This fell back to 51.7 in 2019. In 4Q 2019, average Global Composite activity index stood at 51.3, virtually unchanged on 51.4 in 3Q 2019. Overall, Global Composite PMI has now declined in 7 consecutive quarters.  This weakness in the Global economic activity is traceable also to BRIC...

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7/7/19: 2Q 2019 BRIC PMIs: The Bad, The Ugly, and The Uglier Still

BRIC PMIs for June are out and with them we have 2Q 2019 figures. And the story they tell is two-fold:Fold 1: There is an ongoing Global-scale slowdown in the economy that is broad, sharp and testing the waters of a mild recession approaching Fold 2: The BRICs are barely providing any upside support to the Global momentum. Take Manufacturing: This is simply the 'Uglier' side of the ugly. Global Manufacturing PMI hit 49.8 in 2Q 2019 - statistically, zero growth level, nominally - a...

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4/3/19: BRIC Manufacturing PMI: January-February Trend

In January-February 2019, Global manufacturing PMI sunk to its lowest reading since 2Q 2016 averaging 50.7 over the first two months of the year. With it, the slowdown has also been impacting the BRIC economies, overall BRIC Manufacturing PMIs average 41.2 in 4Q 2018 based on each country share of the global GDP for 2018, below 51.83 average for Global Manufacturing PMI over the same period. In the first two months of 2019, BRIC Manufacturing PMI was around 50.8, statistically...

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