Euro area PMI, Japan pmi, Misc. global headlines

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by WARREN MOSLER

Tariff man, aka Agent Orange, doing a number on global economies…

Just went negative:


Services moved up some but the trend still looks down:

Japan appearing to be collapsing as well:

And these recent headlines:

Argentina Leading Economic Index

The economy of Argentina shrank 0.1 percent month-over-month in January 2019, following a 0.3 percent contraction in the previous month. It is the eleventh consecutive decrease in economic activity but the softest since a mild 0.2 percent expansion seen in February last year.

Russia GDP YoY

Russia’s gross domestic product growth slowed to 0.7 percent year-on-year in January 2019, the weakest since a contraction seen in November 2017, from an upwardly revised 2.3 percent in the previous month. Output rose at a softer pace for construction (0.1 percent vs 2.6 percent in December), retail trade (1.6 percent vs 2.3 percent), freight turnover (2.4 percent vs 3.2 percent) and industrial production (1.1 percent vs 2 percent). On the other hand, agriculture activity expanded at a faster 0.7 percent, compared to a 0.1 percent decline in December.

Brazil Business Confidence

The Industrial Entrepreneur Confidence Index in Brazil fell to 64.5 in February 2019 from 64.7 in the previous month. Future expectations deteriorated (69 from 69.9 in January), namely regarding the company’s situation (69.2 from 69.9) and the country’s economic situation (68.5 from 69.8). Meanwhile, the assessment for current conditions improved (55.6 from 54.1), boosted by both the country’s economic situation (57.1 from 54.8) and the company’s situation (55 from 53.7). Among sectors, confidence weakened in construction (63.3 from 63.7) and manufacturing (64.7 from 64.9) while strengthened in mining (66.7 from 65.1).

 

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