MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Weaker Demand > Softer Inflation Remains A Crucial Key PMI Theme

US DATA
The Fed will be encouraged that the crucial theme of weakening demand in the economy - leading to more modest inflation - played out further in November's prelim US PMIs.
  • The activity data overall remain contractionary, and are deteriorating: Composite at 44.6, a 4-month low), Services at 44.4 (4-month low), and Manufacturing at 47.4. (a 31-month low).
  • Demand is weakening, as evidenced by the fastest decline in new orders since May 2020 with the S&P Global release noting "pressure on purchasing power among customers and company balance sheets" - "Weak demand conditions were broad-based, though manufacturing firms saw a steeper decrease in new orders compared to their service sector counterparts".
  • On the back of weaker demand for new orders, hiring "remained subdued" in December. Backlogs fell for the third straight month, in part due to supply chain bottlenecks easing for manufacturers.
  • Input prices continue to wane - slowest pace since Oct 2020 and in line with the long-run average. Again, weaker demand for inputs cited as the reason for dampened price increases.
  • And also demand-related, the rate of selling price inflation eased to the slowest in two years as firms recorded only modest price increases "in an effort to drive sales and pass through any [input] cost savings".
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.