MAR
05
0

UK PMI surveys show economy close to stalling in first quarter as outlook darkens

'All-sector' PMI rises to 51.4 in February but merely signals0.1% GDP growthNew orders deteriorate for second month runningEmployment falls at rate not exceeded since 2010Input cost inflation at joint-lowest for 31 months

The latest PMI surveys indicate that the UK economy remainedclose to stagnation in February, despite a flurry of activity inmany sectors ahead of the UK's scheduled departure from the EU atthe end of March.

Economy close to stalling

The IHS Markit/CIPS 'all-sector' PMI rose from 50.3 in Januaryto 51.4 in February. In spite of the improvement, the survey'sheadline indicator remains indicative of an economy close tostagnation, on course for its weakest quarterly expansion since thefinal three months of 2012. The PMI data so far suggest the economywill grow by just 0.1% in the first quarter.

The vast service sector saw growth accelerate slightly butremained in its weakest growth spell since 2012, with the rate ofexpansion having cooled markedly since the middle of last year. Thesector is set to only grow by approximately 0.1% in the firstquarter.

Manufacturing output growth was meanwhile disappointingly modestin February given that many firms reported a short-term boost fromcustomers stocking up ahead of potential Brexit-related disruptionsor supply delays. Even with this recent fillip, comparisons withofficial data suggest the goods-producing sector will act as a dragon GDP in the first quarter, entering a technical recession.

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MAR
05
0

PMI shows eurozone economy stuck in low gear and price pressures easing

Eurozone PMI indicative of modest 0.2% GDP growth in firstquarter amid intensifying factory weaknessPrice pressures lowest for one-and-a-half yearsECB set to adopt more dovish stance

The release of Eurozone PMI data indicating weak first quartereconomic growth and a cooling of price pressures sets anuncomfortable stage for the European Central Bank's GoverningCouncil meeting later in the week.

Economy stuck in low gear

The IHS Markit Composite PMI for the euro area strengthened to athree-month high of 51.9, up from 51.0 in January. Although rising,at these levels, the PMI shows the quarterly rate of GDP growthmerely picking up to 0.2% in February from 0.1% in January. Thefirst quarter could consequently see the economy struggle to beatthe 0.2% expansion recorded in the fourth quarter of last year.

The improved performance in part reflected the easing of one-offdampening factors such as the 'yellow vest' protests in France andnew auto sector emissions rules. However, other headwinds continuedto constrain business activity, according to the anecdotal evidencefrom the survey. These included slowing global economic growth,rising geopolitical concerns, trade wars, Brexit and tighteningfinancial conditions.

Manufacturing remained especially fragile, with an increasedrate of decline of new orders and signs of excess capacity relativeto sales boding ill for future production. Alongside disappointingofficial data, the survey suggests the factory sector is in adeepening downturn.

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MAR
05
0

UK PMI surveys show economy close to stalling in first quarter as outlook darkens

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MAR
05
0

Volume of retail trade up by 1.3% in euro area

In January 2019 compared with December 2018, the seasonally adjusted volume of retail trade increased by 1.3% in the euro area (EA19) and by 1.1% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In December, the retail trade volume decreased by 1.4% in the euro area and by 1.3% in the EU28.Original link

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MAR
05
0

Statement by Philip Lowe, Governor: Monetary Policy Decision

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent.Original link

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MAR
05
0

Balance of Payments and International Investment Position, Australia

Current account deficit decreases to $7.2 billionOriginal link

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MAR
05
0

Government Finance Statistics, Australia

Please enable javascript to see the dynamic graph contentDECEMBER KEY FIGURES: ALL LEVELS OF GOVERNMENT

In the December quarter 2018:

Taxation revenue increased by 13.4% from $126,740m in the September quarter 2018 to $143,709m in the December quarter 2018.General government sector revenue exceeded expenses resulting in a GFS net operating balance of $6,144m.The GFS net lending(+)/borrowing(-) position for the general government sector was -$3,757m.

GFS KEY FIGURES: ALL LEVELS OF GOVERNMENT, ORIGINAL

Sep Qtr2018

Dec Qtr2018

Sep Qtr 2018 toDec Qtr 2018

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MAR
05
0

Balance of Payments and International Investment Position, Australia

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MAR
04
0

Worldwide manufacturing growth close to stalling as trade flows deteriorate

Global PMI Output hits 33-month low in February.Output and orders near stagnation as global exports fall forsixth monthInput price inflation lowest since September 2016 as supplierpricing power wanesThirteen out of 30 countries now in manufacturing downturns, upfrom just two this time last year

Worldwide PMI surveys indicated that manufacturing more or lessstagnated in February, with growth of business activity dropping toa 33-month low amid a faster decline of global trade flows. Exportsales fell for a sixth straight month, with the rate of decreaseaccelerating. Almost two-thirds of countries surveyed reportedfalling export orders, while the number of countries inmanufacturing decline has risen to 13 of the 30 included in theglobal PMI.

Notable economies in manufacturing decline now include Germany(which recorded the steepest export fall of all countries), Chinaand Japan. Both the Eurozone and Asia as a whole are consequentlynow in manufacturing downturns. Growth also slowed sharply in theUS and to a lesser extent in Canada, pushing North American growthto an 18-month low.

Price pressures meanwhile eased, with input costs rising at theslowest rate since September 2016, largely reflecting weakenedpricing power among sellers as a result of the slowdown indemand.

Manufacturing PMI at over 2½-year low

The headline JPMorgan Global Manufacturing PMI, compiledby IHS Markit, fell from 50.8 in January to 50.6 inFebruary, its lowest since June 2016.

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MAR
04
0

Worldwide manufacturing growth close to stalling as trade flows deteriorate

Global PMI Output hits 33-month low in February.Output and orders near stagnation as global exports fall forsixth monthInput price inflation lowest since September 2016 as supplierpricing power wanesThirteen out of 30 countries now in manufacturing downturns, upfrom just two this time last year

Worldwide PMI surveys indicated that manufacturing more or lessstagnated in February, with growth of business activity dropping toa 33-month low amid a faster decline of global trade flows. Exportsales fell for a sixth straight month, with the rate of decreaseaccelerating. Almost two-thirds of countries surveyed reportedfalling export orders, while the number of countries inmanufacturing decline has risen to 13 of the 30 included in theglobal PMI.

Notable economies in manufacturing decline now include Germany(which recorded the steepest export fall of all countries), Chinaand Japan. Both the Eurozone and Asia as a whole are consequentlynow in manufacturing downturns. Growth also slowed sharply in theUS and to a lesser extent in Canada, pushing North American growthto an 18-month low.

Price pressures meanwhile eased, with input costs rising at theslowest rate since September 2016, largely reflecting weakenedpricing power among sellers as a result of the slowdown indemand.

Manufacturing PMI at over 2½-year low

The headline JPMorgan Global Manufacturing PMI, compiledby IHS Markit, fell from 50.8 in January to 50.6 inFebruary, its lowest since June 2016.

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