TOKYO (Reuters) – Japanese factory activity shrank at the fastest pace in over three years in October, largely hurt by slumping new orders and output, in yet another sign of broadening economic cracks in the face of slowing global demand and trade frictions.
The weak reading adds to pressure on the government and the central bank to take steps to shield the economy from heightening risks to the outlook from a Sino-U.S. trade dispute, slowing global growth and a sales tax hike at home.
The Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) in October contracted at the quickest pace since June 2016, slipping to 48.5 on a seasonally adjusted basis from a final 48.9 in the previous month.
IHS Markit’s measure of manufacturing and services rose marginally in October, but still signals the slump has extended into the fourth quarter. Factories remain the weak spot, with employment in industry falling the most in almost 10 years.
Instead, most Americans are in what I would call “the barely getting by” category. Here are some key facts that I pulled out of the report: 33 percent of all American workers made less than $20,000 last year and 46 percent of all American workers made less than $30,000 last year.
Gerald Celente – The Greatest Depression Stage One
Trends Journal, Released on 10/25/19
Gerald Celente is a pioneer trend strategist and founder of The Trends Research Institute. He is the author of the national bestseller Trends 2000: How to Prepare for and Profit from the Changes of the 21st Century and publisher of the internationally circulated Trends Journal newsletter. Gerald Celente is a political atheist. Unencumbered by political dogma, rigid ideology or conventional wisdom, Celente, whose motto is “think for yourself,” observes and analyzes the current events forming future trends for what they are – not for the way he wants them to be. Gerald Celente has earned his reputation as “The most trusted name in trends” by accurately forecasting hundreds of social, business, consumer, environmental, economic, political, entertainment, and technology trends.
A third of banks around the world are too weak to survive a severe economic recession, management consulting firm McKinsey & Co. said.
- McKinsey: 60% Of Banks May Not Survive An Economic Slowdown
- Half The World’s Banks Won’t Survive The Next Crisis, McKinsey Finds
- Global banking annual review 2019: The last pit stop? Time for bold late-cycle moves
- A new IMF Report from October 2019 was also very interesting
- IMF’s October 2019 Global Financial Stability Report: Lower for Longer
- Global Financial Stability Report: Banks’ Dollar Funding: A Source of Financial Vulnerability
- The Fed’s official balance sheet is now up $208.754 billion dollars since the end of August 2019
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