BOSSA.CZ (BOSSA.CZ)
Macroeconomics  |  January 03, 2013 09:32:59

PMI manufacturing index in the U.S. and GB positives surprised, shocked negatively in Bohemia


iPoint.cz Great Britain
Yesterday morning was published purchasing managers index (PMI) in the UK in the manufacturing sector. Index a significantly better off in December and has been growing the fastest rate since September 2011. For the first time since May 2012 again broke important value of 50 points, which separates contraction from recession. Reaching 51.4 points and surpassed even the most optimistic expectations of experts, as well as the result of a revised 49.2 points in November.
According to the results, the British production index swung back into expansion and could have a positive impact on the overall growth of the economy in the last quarter of the 2012th The reason for these positive numbers is primarily the improving situation on the labor market and the growth of interest in the domestic market for British products. As regards external demand mainly from China, the U.S. and EU, so it is still lagging. For this reason, the data is still very vulnerable to a possible re going back below 5ti0 points.
Tomorrow will be published PMI (purchasing managers) in the field of construction and Friday services.
The UK economy is currently facing government austerity and high inflation, which surprised the economy in early December.

Eurozone
Production in the euro area continues to contraction, at least according to PMI index released today. The value of 46.1 points is 0.2 points worse than the original estimates and support a negative outlook for the year 2013, when the recession is expected to continue. The European economy is collapsing for the second quarter in a row and still nothing to suggest that the situation should improve in the coming months. Sam the European Central Bank in its prediction for 2013 expects 0.5 percent contraction of the economy.

Czech Republic
Similarly, negative news from the euro area economy as today came from the Czech Republic. Industrial production, according to the PMI index in December fell by 2.2 percentage points to a total of 46 points. Industry is continuing contraction in 9 months and today is the lowest since July 2009. The CNB thus creating more space for monetary easing.For deteriorated situation can mainly a sharp reduction in new orders in the automotive and construction industries.

USA
Producers in the United States is better off in December than in November. The results of the manufacturing PMI, the U.S. production swung back into the expansion, when it reached 50.7 points. So bettered by 2.2 compared to November. A majority consensus of economists expect modest growth at around 50.2 points.
Currency pair GBP / USD tonight considerably strengthened and was able to create 16měsíční maximum 1.6380. Positive data from industrial production but not the only reason why the currency pair GBP / USD strengthened. The biggest influence on today's market movement should adopt a provisional solution fiscal cliff, in consequence of which the dollar against all major currencies weakened.The market currently held in slight relief, and it is possible to gather the strength to move upwards. On an hourly chart we can see a hidden bullish divergence, which may herald a new high.


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