-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMay PMIs Weaker Than Forecast, Manufacturing Back Sub 50
The official PMIs were weaker than expected. Manufacturing slipped back into contraction territory, printing at 49.5, versus 50.5 forecast. This ends the 2 month run of above 50.0 prints. The services or non-manufacturing PMI printed at 51.1, against a forecast of 51.5 and a prior outcome of 51.2. The composite PMI printed at 51.0, versus 51.7 in April.
- For the manufacturing PMI, we saw weakness in new orders, the headline falling to 49.6 (51.1 prior). New orders to orders eased slightly but remains elevated by recent standards. New export orders fell to 48.3 form 50.6. Output was 50.8 from 52.9 in April, while imports fell to 46.8 from 48.1.
- The employment sub index was steady near 48.0, while input and output price measures both rose. Input prices to 56.9 from 54.0, output prices to 50.4 (49.1 prior).
- On the services side, the detail was mostly softer. New orders rose but only to 46.9. Input and selling prices both eased. Both these measures are back sub the 50.0 expansion/contraction point. Employment also fell further to 46.2 (from 47.2).
- The data is disappointing in the sense the manufacturing/industrial side had been showing more positive trends compared to other parts of the China economy. It will see on-going calls for policy support maintained.
Fig 1: China PMIs Soften In May
Source: MNI - Market News/Bloomberg
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.