• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Despite Collapsing Economy, Japanese PMI Surges To 5-Month High; China PMI Tumbles, Misses By Most On Record

Tyler Durden's picture


Following New Zealand's biggest monthly plunge in consumer confidence in over 2 years, Japan's Manufacturing PMI surged to its highest since March at 52.5 (handily beating expectations of 51.5). Almost the entire suite of subindices were positive except JPY weakness-inspired margin compression as output prices tumbled and input prices surged. All of this in the face of collapsing and disappointing hard data. Meanwhile, China Manufacturing PMI plunged to 51.5, missing by the most on record, as China's apparent 'hard' data shows improvement. Perhaps it is time to recalibrate the seasonal magic in these PMIs...


New Zealand (like Australia) getting no help from China's recent PMI surge... biggest serial plunge in Confidence in over 3 years...


Which fits with the plunge in China PMI... (Employment continued its over 2-year contraction) as new orders retreated and inflation slowed


But then there is Japan's "miracle" survey...


More Japan schizophrenia...


Once again Soft survey data will be trumpeted over hard REAL data...

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Wed, 08/20/2014 - 22:01 | 5123437 NOTaREALmerican
NOTaREALmerican's picture

Japan:  the energizer-bunny of economies.

Thu, 08/21/2014 - 02:06 | 5124105 Four chan
Four chan's picture

because these numbers are wildly hopping around with each new report?

Thu, 08/21/2014 - 02:46 | 5124140 Aussiekiwi
Aussiekiwi's picture

made up numbers based upon other made up numbers tend to do that.

Wed, 08/20/2014 - 22:04 | 5123458 q99x2
q99x2's picture

It's a Godzilla movie with a whole nation of extras.

Wed, 08/20/2014 - 22:08 | 5123480 disabledvet
disabledvet's picture

"The surgery was a success but the patient died."

Wed, 08/20/2014 - 22:08 | 5123472 Millivanilli
Millivanilli's picture

All we have to do is to tell them chocolate rations have doubled.


Filthy, scum sucking banksters.


Wed, 08/20/2014 - 22:08 | 5123475 Its Only Rock N Roll
Its Only Rock N Roll's picture

P - Poll

M - More

I - Idiots

Wed, 08/20/2014 - 22:15 | 5123515 TulsaTime
TulsaTime's picture

Proving, once again, that there are Lies; Damn Lies, and Government Statistics

Wed, 08/20/2014 - 22:23 | 5123556 ramacers
ramacers's picture

the "data", no matter what called or from where, is rigged,meaningless tripe.

Wed, 08/20/2014 - 22:42 | 5123659 NOTaREALmerican
NOTaREALmerican's picture

No so sure,  Japan has been collapsing for decades now.   And yet, there they are.   Perhaps the data is correct,  it's just not showing who's winning.

Wed, 08/20/2014 - 22:48 | 5123689 Atomizer
Atomizer's picture


This is a low profile report clip. Know I can be a dick at times.. thanks for taking my advice. Keep up the good work. No need to chat about it. Keep pushing the envelope, it's about to fall off the table. 



Told you I'm a dick. Lol! 

Wed, 08/20/2014 - 22:59 | 5123737 BringOnTheAsteroid
BringOnTheAsteroid's picture

Mind boggling stuff. I can't follow any of this anymore. This headline driven interpretation of a country's economy is just too fucking confusing. So, is a PMI beat good or bad?   

Thu, 08/21/2014 - 01:38 | 5124085 Wild Theories
Wild Theories's picture

neither, 1 month of flip-flopping doesn't mean anything...

don't jump until it becomes a trend: ie, more than 2-3 months worth of continuation, AND supported by other indicators in the economy

Thu, 08/21/2014 - 02:45 | 5124139 Aussiekiwi
Aussiekiwi's picture

NZ is fine, the Chinese are still flooding the country with cash and buying everything not nailed down.

One day the Kiwis will wake up and find they don't actually own anything of value anymore.

Thu, 08/21/2014 - 00:37 | 5124009 darteaus
darteaus's picture

The Japanese must have started building aircraft carriers.

Thu, 08/21/2014 - 00:36 | 5124010 mvsjcl
mvsjcl's picture

Made-up numbers from a made-up world using made-up money.

Thu, 08/21/2014 - 06:45 | 5124267 Trahald
Trahald's picture

Maybe the drop in consumer confidence in New Zealand is due to the 1% increase in interest rates and the 40% drop in dairy products (since February) which is their main export.

The price drop is due to an increase in the supply of dairy products available as dairy ramps up to take advantage of the high prices.  Supply and demand.

As the ecomomy "was" performing strongly the central bank increased interest rates.

Just waiting for the third strike -

Thu, 08/21/2014 - 07:33 | 5124326 AdvancingTime
AdvancingTime's picture

When you introduce demographics into the picture we see that Japan is stuck with an aging and shrinking population that is evermore expensive for the government to provide for. Adding to its woes the Fukushima nuclear disaster has shuttered its nuclear power plants and forced the country to import more expensive energy alternatives.

Neither monetary nor fiscal policy will adequately solve Japan's problems. Continuing to run fiscal deficits only means that government debt is pushed onward and upwards leading to a variety of possible scenarios as to the what the end game will be. Simply put, the fundamentals for Japan are lousy. More on the downward path that Japan is on in the article below.



Thu, 08/21/2014 - 09:01 | 5124577 Ward cleaver
Ward cleaver's picture

All these statistics r meaningless. ZIRP funnels all money
into equities, creating a sense of wealth and supporting the
RE market. Banks get rich off of free money and have become
even more TBTF. Pathetic

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