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First: The most important points
- The Swiss industrial sector is experiencing a sharp contraction.
- The US industrial sector shows mixed indicators.
- Improvement in some British and Japanese data .
- Weak data from Australia and the European Union .
Second: Data by country
Switzerland
- Annual retail sales : -7.7% vs. -7.1% in the previous reading (deeper contraction).
- Quarterly GDP : 0.5% vs. 0.4% expected and 0.3% previous.
- Manufacturing Purchasing Managers’ Index (PMI) : 42.1 vs. 48.1 expected, 45.8 previously (sharp contraction in the industrial sector).
US
- Final Manufacturing PMI : 52.0 vs. 52.3 expected.
- ISM Manufacturing : 48.5 vs. 49.3 expected, 48.7 previously (below 50, indicating contraction).
- ISM Manufacturing Prices : 69.4 vs. 70.2 expected and 69.8 previous.
- Monthly Construction Spending : -0.4% vs. 0.4% expected, -0.8% previous.
- Fed member Waller’s speech : May carry future signals for monetary policy.
Switzerland and Europe
- Spain : Manufacturing PMI at 50.5 (higher than expected 48.3).
- Italy : 49.2 (below expected 49.5).
- France : Score 49.8 (matched expectations).
- Germany : 48.3 (below expectations of 48.8).
- Eurozone as a whole: 49.4 (in line with expectations).
- Bank holiday in Italy .
UK
- Nationwide HPI monthly : rose 0.5% vs. 0.0% expected and -0.6% previous.
- Final Manufacturing PMI : came in at 46.4 vs. 45.1 expected.
- M4 Money Supply Monthly : 0.0% vs. 0.2% expected.
- Mortgage approvals : 60,000 vs. 65,000 expected.
- Lending to individuals : recorded 0.8 billion pounds, compared to an expected 2.8 billion pounds .
Australia
- Inflation rate (MI ): -0.4% compared to 0.6% previously.
- ANZ Job Ads : -1.2% vs. -0.3% previously.
- Annual commodity prices : -7.7% compared to -7.1% previously.
Japan
- Annual capital expenditure : 6.4% vs. 3.8% expected and -0.2% previously.
- Final Manufacturing PMI : came in at 49.4 , matching the previous reading.
Canada
- Manufacturing PMI : 46.1 vs. 45.3 in the previous reading.
General summary
- The Swiss economy is facing increasing pressure in the retail and industrial sectors, reflecting a slowdown in domestic and external demand.
- The United States is recording a clear discrepancy between its final manufacturing indicators and the ISM index, further clouding industrial growth prospects.
- The European industrial sector remains weak, with the exception of Spain.
- UK data was mixed, with an improvement in house prices but weakness in lending and credit.
- Japan showed a positive surprise in capital investment.
