China Credit Impulse Leads Global Manufacturing PMI China credit impulse tends to lead global manufacturing PMI by 12 months. Credit impulse is the change in new credit issued as a percentage of GDP. Image: Nordea and Macrobond
Global Manufacturing PMI Despite a slight decline, global manufacturing activity remains expansionary. Image: J.P. Morgan Asset Management
Global Manufacturing PMI vs. MSCI ACWI PMI’s are peaking. Historically, markets tend to lead the macro for most time periods. Image: BofA Global Investment Strategy
Global Manufacturing PMI in October Global manufacturing PMIs continue to be strong in March. Image: Morgan Stanley Research
Global Manufacturing PMI vs. S&P 500 Financials Index/S&P 500 Index Financials are generally highly correlated with the rebound in economic indices, but they are lagging. Image: Morgan Stanley Wealth Management
Global Manufacturing PMI in July Global Manufacturing PMIs are back above 50 in July, suggesting a V-shaped recovery in global economy. Image: Morgan Stanley Research
Trade-Weighted U.S. Dollar Index vs. Global Manufacturing PMI A stronger global growth could lead to a weaker U.S. dollar. Image: Morgan Stanley Research
Global Manufacturing PMI in June Global manufacturing PMIs rise to 48.9 in June, and suggest a V-shaped recovery in global economy. Image: Morgan Stanley Research
MSCI ACWI Value vs. Growth Relative Valuation and Global Manufacturing PMI Chart suggesting that value should outperform growth in the recovery phase. Image: Morgan Stanley Research
Global Manufacturing PMI Chart suggesting no global recession in 2020 and a U-recovery for the global economy. Image: Danske Research