Germany economic challenges in one chart
Source: Statistisches Bundesamt
Germany’s manufacturing downturn unexpectedly deepens amid falling demand at home and abroad.
S&P Global’s PMI for the country’s industrial sector dropped to 42.3 from 45.5 the previous month – well below any economist estimate in a Bloomberg survey. The picture was brighter in France, where the contraction eased much more than analysts had predicted. Companies reported improving demand while expanding their workforce. Source: Bloomberg, HolgerZ
China Factory Activity Expands Again, Private Survey Shows
Source: Bloomberg, C.Barraud
From Wall Street to Main Street (aka workers want a bigger piece of the cake) => UAW members go on strike at three key auto plants after deal deadline passes
Half of US auto production is going offline tomorrow. - Thousands of United Auto Workers members went on strike at three key plants, after Detroit automakers failed to reach deals with the union by a Thursday night deadline. - The selected plants produce highly profitable vehicles for the automakers that largely continue to be in high-demand. About 12,700 workers – 5,800 at Stellantis, 3,600 at GM and 3,300 at Ford – will be on strike at the plants in total, the union said. The UAW represents about 146,000 workers across Ford, GM and Stellantis. Source: Goldman, CNBC
Global Manufacturing PMIs and Global stocks seem to be in disagreement...
Source: Bloomberg, www.zerohedge.com
