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Tonight DV Economics LLPPC will look at backward looking data, the U.S PMI, JP Morgan Global PMI and CLSA/HSBC China PMI report (Purchasing Manager's Index). The U.S ISM report showed decent growth in Manufacturing, New Orders and Input Prices but a contraction in Employment as expected. The JPM Global PMI and China PMI showed similar growth. It looks like the global stimulus effort reflated crude goods (commodities) to manufacturing inputs successfully. Will input price inflation spread to producer-finished goods and consumer prices?? I charted input price trends below.
ISM: Manufacturing, Non-Manufacturing Input Prices (Source)
JP Morgan Global PMI: Services, Manufacturing Input Prices (Source 1, 2)
HSBC/CLSA China PMI: Input and Output Prices (Data 1, 2)
Watch out for the August U.S PPI report on Monday, September 15. China's August CPI fell 1.2% and PPI fell 7.9% from a year earlier (chinaview.cn, table at xe.com).
Input Prices Rise Globally (ISM, JPM Global PMI, HSBC China PMI)
Tonight DV Economics LLPPC will look at backward looking data, the U.S PMI, JP Morgan Global PMI and CLSA/HSBC China PMI report (Purchasing Manager's Index). The U.S ISM report showed decent growth in Manufacturing, New Orders and Input Prices but a contraction in Employment as expected. The JPM Global PMI and China PMI showed similar growth. It looks like the global stimulus effort reflated crude goods (commodities) to manufacturing inputs successfully. Will input price inflation spread to producer-finished goods and consumer prices?? I charted input price trends below.
ISM: Manufacturing, Non-Manufacturing Input Prices (Source)
JP Morgan Global PMI: Services, Manufacturing Input Prices (Source 1, 2)
HSBC/CLSA China PMI: Input and Output Prices (Data 1, 2)
Watch out for the August U.S PPI report on Monday, September 15. China's August CPI fell 1.2% and PPI fell 7.9% from a year earlier (chinaview.cn, table at xe.com).
