World PMIs (October 2014, preliminary) – steady as she goes

The October preliminary Markit PMIs for major economies were somewhat stronger, on balance, than September’s. The US is off its peak but still quite strong. The Eurozone recovered a bit, thanks to Germany is my guess, though the reading is still around the 50% expansion/contraction line.

pmi.heatmap-2014-10-23.b

In Asia, Japan’s manufacturing PMI posted solid progress and China registered little change.

Overall, the preliminary PMI’s suggest to me no significant changes in global economic growth: Fairly strong in the US, moderate in Asia, weak but positive in Europe.