A new report from Stéfane Marion, Chief Economist and Strategist at National Bank Financial Markets (NBF), a subsidiary of the National Bank of Canada, looks at manufacturing PMI’s in the G20 countries.
As far as expansion/contraction, the US is actually towards the middle of the pack right now, but overall, more countries than not are experiencing contraction in the manufacturing sector.
Marion notes what a large part of the world this data represents.
Taken as a whole those 11 economies represent no less than 58% of the world economy based on IMF estimates. Moreover, among those 17
countries, 11 are showing a deterioration from June’s print.