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Despite Collapsing Economy, Japanese PMI Surges To 5-Month High; China PMI Tumbles, Misses By Most On Record
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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Japan: the energizer-bunny of economies.
because these numbers are wildly hopping around with each new report?
made up numbers based upon other made up numbers tend to do that.
It's a Godzilla movie with a whole nation of extras.
"The surgery was a success but the patient died."
All we have to do is to tell them chocolate rations have doubled.
Signed,
Filthy, scum sucking banksters.
P - Poll
M - More
I - Idiots
Proving, once again, that there are Lies; Damn Lies, and Government Statistics
the "data", no matter what called or from where, is rigged,meaningless tripe.
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.
Tyler,
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.
Love,
Atomizer
Told you I'm a dick. Lol!
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?
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
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.
The Japanese must have started building aircraft carriers.
Made-up numbers from a made-up world using made-up money.
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 -
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.
http://brucewilds.blogspot.com/2014/05/japan-sliding-towards-abyss.html
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