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☆ U.S. manufacturing sector contracts in November - ISM
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +3 min

The Institute for Supply Management (ISM) said on Thursday that its manufacturing PMI fell to 49.0 last month. A reading below 50 indicates contraction in manufacturing, which accounts for 11.3% of the U.S. economy. The ISM survey's forward-looking new orders sub-index dropped to 47.2, remaining in contraction territory for a third straight month. The survey's measure of supplier deliveries rose to 47.2 from 46.8 in September, which was the first decline below the 50 threshold since February 2016. The ISM survey's measure of factory employment decreased to 48.4 from 50.0 in October.

As the coronavirus has spread in China, Beijing has imposed prolonged lockdowns in several places. The stringent COVID-19 measures also stoked rare street protests across many cities over the weekend. Reuters GraphicsThe sub-indexes for manufacturing PMI including output, employment and suppliers' delivery times all shrank in November at a faster pace than the month before, the data showed. The official manufacturing PMI largely focuses on big and state-owned firms. The private sector Caixin manufacturing PMI, which centres more on small firms and coastal regions, will be published on Thursday.

☆ China's Nov factory, services activities fall to 7-month lows on COVID curbs
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

The official manufacturing purchasing managers' index (PMI) stood at 48.0 against 49.2 in October, the lowest reading in seven months, according to data from the National Bureau of Statistics (NBS). Separately, the non-manufacturing PMI, which looks at service sector activity, fell to 46.7 from 48.7 in October, also the lowest reading in seven months. Chinese authorities this month rolled out a flurry of policies to prop up the struggling economy, including reserve requirement ratio cuts and COVID fine-tuning measures, while loosening financing curbs to rescue the property sector. The official manufacturing PMI largely focuses on big and state-owned firms. The private sector Caixin manufacturing PMI, which centres more on small firms and coastal regions, will be published on Thursday.

The IMF, the U.S. Treasury Secretary and the world's biggest bond fund all chipped in with their views on China on Wednesday, although what investors really want to hear is word from Beijing. As analysts at CrossBorder Capital note, economic momentum in China is slowing again, while investors' risk appetite remains near 2020 pandemic lows. chartThe IMF suggests there is scope for a further "gradual, safe recalibration" of Beijing's zero-COVID policy. U.S. Treasury Secretary Janet Yellen said China's zero-COVID policy was a threat to healing global supply chain difficulties, but said she would not give Beijing advice on managing the pandemic. Another whoosh in global markets - Wall Street's three main indices soared 2%-4% on Powell's comments on Wednesday - won't do any harm either.

☆ China's factory activity contraction likely deepened in Nov on COVID woes
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 28 (Reuters) - China's factory activity is expected to have contracted further this month, piling pressure on the economy as COVID restrictions hit production and exports fell despite a flurry of stimulus policies, a Reuters poll showed on Monday. China's economy is poised to miss the "around 5.5%" full-year government growth target with gross domestic product expanding just 3% in the first three quarters of this year. Chinese advisers say they will recommend a modest growth target for 2023 ranging from 4.5% to 5.5% to an annual policymakers' meeting in December. The official manufacturing PMI, which largely focuses on big and state-owned firms, and its survey for the services sector, will be released on Wednesday. The private sector Caixin manufacturing PMI, which centres more on small firms and coastal regions, will be published on Thursday.

The rupee ended unchanged at 81.6850 per U.S. dollar last week. "Markets are sensing a softening of approach from the U.S. Federal Reserve and that's giving legs to risk assets. The benchmark 10-year bond yield finished flat at 7.3012% last week. It is expected to stay within a 7.25%-7.33% band this week, with a break below 7.25% considered highly unlikely, the trader said. Many Asian countries are scheduled to release manufacturing data, with China's factory activity data due Wednesday.

☆ The November jobs report and the Fed matter most to markets in the week ahead
▼ + stars: | 2022-11-25 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

November's jobs report is the big event for markets in the week ahead, and it could provide important insight into the path of Federal Reserve interest rate hikes. The labor market has cooled only slightly, as other parts of the economy have slowed. But the labor market has been more resilient than expected, challenging the Fed's efforts to tame inflation by slowing economic activity. Besides the jobs report, there is the Job Openings and Labor Turnover Survey (JOLTS) report Wednesday, as well as the Fed's beige book on economic activity. "Holding above 4,000, as we await the jobs report and those other economic reports would be constructive for one more move before Christmas," he said.

Meanwhile, the downturn in euro zone business activity eased slightly in November, offering a glimmer of hope the expected recession there may be shallower than feared, but consumers still cut spending amid a cost of living crisis. However, November is the fifth month the index has been below the 50 mark separating growth from contraction. But in France activity contracted for the first time since February 2021 as lower new orders weighed on the euro zone's second-biggest economy. Activity in the bloc's dominant services industry declined again, with the headline index matching October's 20-month low of 48.6. Manufacturing activity, particularly hard hit by soaring energy prices and disrupted supply chains, also declined but at a slower pace.

☆ Take Five: Black Friday test
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +5 min

1/GOING SHOPPINGWith concerns that the U.S. economy may be on the verge of a recession, a key test of consumer demand arrives on Nov. 25, when retailers launch "Black Friday" sales - a day traditionally marked by long lines of shoppers eager to pounce on discounts. Soaring inflation and surging interest rates could test buying appetite. The dollar index, meanwhile, peaked at a 20-year high of 114.78 in September and has been falling ever since. Reuters Graphics3/BLEAK OUT THEREThe International Monetary Fund says the global economic outlook is even gloomier than it was a month ago. Preliminary readings of business activity in November from a number of economies could answer the question in the coming days.

☆ Markets are watching for more clues on Fed hikes and the economy in the week ahead
▼ + stars: | 2022-11-18 | by ( Patti Domm | In | ) www.cnbc.com time to read: +7 min

Investors may be a bit more cautious in the week ahead, with stocks seeking direction in quiet trading and the bond market's warnings about recession getting louder. "That's going to cause its own pressure on markets because markets never look through a profit recession." In the past week, Fed officials maintained their tough tone and some even sounded more hawkish. A rallying stock market is a sign of looser financial conditions. "The stock market is complicating the Fed's objective," said Lyngen.

☆ U.S. service sector slows in October; price pressures build up - ISM survey
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity. The ISM's measure of new orders received by services businesses fell to 56.5 from 60.6 in September. The ISM survey's measure of services industry supplier deliveries increased to 56.2 last month from 53.9 in September. Its services industry employment gauge dropped to 49.1 from 53.0 in September. Services businesses in the ISM survey in September reported hiring remained a challenge and qualified workers were scarce.

☆ U.S. labor market unwavering despite stiff interest rates hikes
▼ + stars: | 2022-11-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

But annual revisions to the data showed productivity much stronger in 2020 and 2021 than previously reported. Unit labor costs - the price of labor per single unit of output - increased at a 3.5% rate after accelerating at a pace of 8.9% in the second quarter. Unit labor costs advanced at a 6.1% rate from a year ago. Growth in unit labor costs was much slower than previously estimated in 2020 and 2021. Labor costs"Both productivity growth and labor cost growth may be understated," said Conrad DeQuadros, senior economic advisor at Brean Capital in New York.

☆ Treasury yields fall as traders await Fed interest rate decision and policy guidance
▼ + stars: | 2022-11-02 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

The policy-sensitive 2-year Treasury yield reversed some of Tuesday's gains and was last trading at around 4.5074%. ET, the yield on the benchmark 10-year Treasury was down by less than a basis point to 4.0464%. U.S. Treasury yields fell Wednesday ahead of the conclusion of the Federal Reserve's November meeting where markets expect a 75 basis point interest rate hike and signals about future policy. Economic slowdown is one of the main market concerns when it comes to interest rate hikes. Investors are therefore hoping that the Federal Reserve will also provide some guidance on future policy plans and whether interest rate hikes will slow or pause entirely.

☆ U.S. job openings jump in September; raw material prices fall in October
▼ + stars: | 2022-11-01 | by ( Lucia Mutikani | Wayne Cole | ) www.reuters.com time to read: +4 min

With roughly 1.9 job openings for every unemployed worker at the end of September, wage growth could remain elevated. "It is a head scratcher where you have to wonder whether 10 million job openings can stop a recession from coming." Job openings, a measure of labor demand, increased 437,000 to 10.7 million on the last day of September, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report. Data for August was revised higher to show 10.3 million job openings instead of 10.1 million as previously reported. The job openings rate increased to 6.5% from 6.3% in August.

☆ U.S. manufacturing activity slowest in nearly 2-1/2 years in October -ISM
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

The Institute for Supply Management (ISM) said on Tuesday that its manufacturing PMI fell to 50.2 last month from 50.9 in September, both the lowest readings since May 2020. A reading above 50 signals expansion in manufacturing, which accounts for 11.9% of the U.S. economy. A measure of prices paid by manufacturers dropped to 46.6, the lowest reading since May 2020, from 51.7 in September. The ISM survey's measure of factory employment also ticked up to 50.0 last month after dropping to 48.7 in September. The index has been a poor predictor of manufacturing payrolls in the government's closely watched employment report, next out this Friday.

The Institute for Supply Management (ISM) said on Tuesday that its manufacturing PMI fell to 50.2 in October from 50.9 in September. China's Caixin/S&P Global manufacturing PMI stood at 49.2 in October, up from 48.1 in September. The private sector survey was in line with an official PMI released on Monday that showed China's factory activity unexpectedly fell in October. Japan's au Jibun Bank Japan Manufacturing PMI fell to 50.7 in October from September's 50.8 final, marking the weakest growth since January last year. India was an outlier with factory activity expanding at a stronger pace in October as demand remained solid.

☆ Asia's factory output weakens on global slowdown, China COVID curbs
▼ + stars: | 2022-11-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The private sector survey was in line with an official PMI survey released on Monday that showed China's factory activity unexpectedly fell in October. Japan's au Jibun Bank Japan Manufacturing PMI fell to 50.7 in October from September's 50.8 final, marking the weakest growth since January last year. South Korea's factory activity shrank for a fourth month in October as orders for exports fell for an eighth month, the PMI showed. That followed data that showed South Korea's exports fell the most in 26 months with shipments to China, its largest market, extending declines. Factory activity in Indonesia expanded at a slower pace in October with the PMI standing at 51.8, down from 53.7 in September.

☆ China's Oct factory activity shrinks as COVID curbs hit output, demand - Caixin PMI
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

The Caixin/S&P Global manufacturing purchasing managers' index (PMI) stood at 49.2 in October, up from 48.1 in September and slightly above analysts' expectations for 49.0. In line with China's official PMI, which unexpectedly fell into contraction last month, waning factory activity weighed on the fragile recovery of the world's second-biggest economy amid a deepening property crisis and weakening demand. The softer activity continued to pressure the labour market as the manufacturing employment fell for the seventh month in a row. "In particular, the spread of the coronavirus in many regions significantly restricts both supply and demand," Wang said. The Caixin manufacturing PMI centres on small firms and coastal regions where sit a great number of exporters.

☆ Wheat eases from 2-week top on Black Sea supplies; soy, corn down
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

Soybeans and corn lost ground after closing higher on Monday with a rapid pace of U.S. harvest weighing on prices. * Losses in the wheat market were curbed by dryness hitting the U.S. winter crop. For corn, the harvest was 76% complete, ahead of the average analyst estimate of 75% and the five-year average of 64%. * Commodity funds were net buyers of CBOT wheat, soybean, corn, soyoil and soymeal futures contracts on Monday, traders said. DATA/EVENTS (GMT)0030 Japan JibunkBK Mfg PMI Final SA Oct0145 China Caixin Mfg PMI Final Oct0330 Australia RBA Cash Rate Nov0700 UK Nationwide house price MM, YY Oct0930 UK S&P GLBL/CIPS Mfg PMI Final Oct1345 US S&P Global Mfg PMI Final Oct1400 US ISM Manufacturing PMI OctU.S. Federal Reserve's Federal Open Market Committeestarts its two-day meeting on interest ratesReporting by Naveen Thukral; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Future rise after strong month on Wall Street
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.58%, S&P 0.82%, Nasdaq 1.05%Nov 1 (Reuters) - U.S. stock index futures rose on Tuesday after a strong October on Wall Street, as investors clung to hopes that the Federal Reserve will signal a slower pace of future interest rate hikes as economic growth slows. But traders are hoping that the Fed could soon pause its rate hikes or at least shift to a less aggressive stance. ET, Dow e-minis were up 190 points, or 0.58%, S&P 500 e-minis were up 32 points, or 0.82%, and Nasdaq 100 e-minis were up 119.75 points, or 1.05%. ET, is expected to show manufacturing PMI fell to 50 last month after declining to 50.9 in September. Reporting by Sruthi Shankar and Amruta Khandekar in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

☆ Irish manufacturing sector posts slow growth in October - PMI
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Nov 1 (Reuters) - Ireland's manufacturing sector posted modest growth in October as demand remained weak, a survey showed on Tuesday. The AIB S&P Global manufacturing Purchasing Managers' Index (PMI) slipped to 51.4 in October from 51.5 the previous month, hovering above the 50 mark that separates expansion from contraction. Ireland outperformed the wider euro zone's flash manufacturing PMI, which last week slipped to 46.6. The survey showed the output subindex returning to expansion for the first time in five months while the contraction in new orders eased. Writing by Conor Humphries; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. Treasury yields drop ahead of data releases, Fed meeting
▼ + stars: | 2022-11-01 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

The yield on the benchmark 10-year Treasury fell back below the 4% mark and was last trading at around 3.9881% at 5 a.m. The 2-year Treasury yield declined by around 6 basis points to 4.4369%. U.S. Treasury yields declined Tuesday ahead of the Federal Reserve's November meeting and as investors awaited key jobs and manufacturing growth data. JOLTs job openings data for September and ISM's October manufacturing PMI (purchasing managers' index) are due to be released on Tuesday. Concern about the Federal Reserve's series of interest rate hikes leading to an economic slowdown has been spreading among traders.

☆ China's factory, services activity skids on relentless COVID curbs
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +4 min

The official manufacturing purchasing managers' index (PMI) fell to 49.2 from 50.1 in September, the National Bureau of Statistics (NBS) said on Monday. The poll showed China's growth could pick up to 5.0% in 2023. DEMAND WEAKENSThe manufacturing PMI survey pointed to weakening demand with the new orders subindex showing contraction for the fourth straight month. The official manufacturing PMI largely focuses on big and state-owned firms. The private sector Caixin manufacturing PMI, which centres more on small firms and coastal regions, will be published on Tuesday.

☆ China's factory, services activity skids on persistent COVID curbs
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +4 min

☆ China's Oct factory activity unexpectedly skids amid slowing demand
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas PeterSummary Official manufacturing PMI unexpected fall in OctOfficial services PMI contracts in OctBEIJING, Oct 31 (Reuters) - China's factory activity unexpectedly fell in October, an official survey showed on Monday, weighed by softening global demand and strict COVID-19 restrictions, which hit production. The official manufacturing purchasing managers' index (PMI) stood at 49.2 from a 50.1 reading in September, the National Bureau of Statistics (NBS) said. The poll showed China's growth could pick up to 5.0% in 2023. The official manufacturing PMI largely focused on big and state-owned firms. The private sector Caixin manufacturing PMI, which centres more on small firms and coastal regions, will be published on Tuesday.

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