FILE PHOTO: A worker works on a production line at a factory of a ship equipments manufacturer, in Nantong, Jiangsu province, China March 2, 2020. China Daily via REUTERS
“Indeed, the latest Eurozone and Asian PMI manufacturing readings signal the recovery is losing steam, even in countries that did arguably a better job at containing the virus than the U.S.” IHS Markit’s final Manufacturing Purchasing Managers’ Index dipped to 51.7 in August from July’s 51.8, in line with an earlier flash reading and comfortably ahead of the 50 mark separating growth from contraction. [EUR/PMIM]
German manufacturers’ recovery from lockdown measures continued last month, but activity in France slipped back into contractionary territory as the second-biggest euro zone economy grappled with hits to business caused by the pandemic. Japan and South Korea both saw factory output contract at the slowest pace in six months, reinforcing expectations the region’s export powerhouses are past the worst from a collapse in demand after the coronavirus struck.
What crazy people are still buying from China?
Markets aren't paying heed to economists or analysts; they have become like a rampaging mob, running the streets with no clear goals, no cohesive philosophy, much like we see what's happening in the streets all over the world---rampage!