Mixed July for Global PMI

One measure of the global economy that we watch closely is the monthly PMI report for countries around the globe.  What is the significance of the PMI?  From Markit:PMIs are based on monthly surveys of carefully selected companies. These provide an advance indication of what is really happening in the private sector economy by tracking variables such as output, new orders, stock levels, employment and prices across the manufacturing, construction, retail and service sectors. http://bit.ly/14MO5UQ

pmi scorecard

A reading above 50 indicates economic expansion while a reading below 50 indicates contraction.  July was a mixed bag as we saw improvement in Europe (Germany, Italy, Poland, etc.) while seeing many Asian countries (Japan, Korea, Taiwan) as well as Turkey, Russia and Australia continuing to weaken.   

For a more thorough report, including the U.S., Brazil and Canada, check out the great job the folks at BusinessInsider.com have done: http://read.bi/1384HHt