The contraction is here folks!
Philly Fed confirmed the horrible numbers from NY Empire.
Philly Fed at 0.3 is in line with ISM Manufacturing below 50!!
— AndreasStenoLarsen (@AndreasSteno) June 20, 2019
— Chris Williamson (@WilliamsonChris) June 21, 2019
global economy continues to cycle down pic.twitter.com/tCevKFY1Ef
— Alastair Williamson (@StockBoardAsset) June 21, 2019
Here are the previews for Europe & markets are expecting a marginal improvement for manufacturing & services for both Germany & France (don't forget ZEW expectations were meh).
Since a more dovish Fed, EUR surged back so we'll see if the economy supports the rebound. pic.twitter.com/IsNfwTqFSb
— Trinh (@Trinhnomics) June 21, 2019
This is what it looks like year-to-date (Jan to May) in USD: Exports +0.4% YoY😬 Imports -3.7% 😬
Notice imports contracting & remember that the CA for China was 0.4% of GDP in 2018 so that means it's using the CA as a 1st line of defense & that's bad news for Asian exporters🥶 pic.twitter.com/yXcqEvswK3
— Trinh (@Trinhnomics) June 10, 2019
Taiwan posted May export orders, or shall I say lack of shipment? Yep, it fell -5.8%YoY (remember Korea & Japan? Both bad too); And by destination, orders from Hong Kong & the Mainland fell double digits to -13.9% YoY in May. Don't worry, ASEAN dropped double digits too. 👇🏻👇🏻😬 pic.twitter.com/o5loGd19Ot
— Trinh (@Trinhnomics) June 20, 2019