Thursday, October 3, 2013

M-PMIs Better In Advanced Than Emerging Economies (excerpt)

Among the major advanced economies of the world, the US had the second best M-PMI during September, with a reading of 56.2. The UK led with a reading of 56.7, though that was a downtick from August, while the US was an uptick. Despite all the stimulus from Abeconomics, Japan registered 52.5 on the M-PMI scale, only slightly better than the euro zone’s 51.1. The major emerging economies (Brazil, China, India, and Russia) were all around 50 last month.

Today's Morning Briefing: Blue Angels. (1) The Rosengren rehash. (2) Focusing on payroll data, which may be postponed. (3) ADP shows lackluster job gains. (4) Wasn’t QE supposed to create more jobs? (5) Is it the Fed’s job to counter fiscal recklessness? (6) Flying in circles inside the Beltway. (7) Doing remarkably well despite Washington. (8) US has best-looking Blue Angels profile in the world. (9) Analysts say profit margins have more upside in the US. (10) Rising labor costs squeezing margins in emerging economies. (More for subscribers.)

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