Right Now, The Global Economy Is Looking Surprisingly Strong
We're part-way through PMI Day, when reports come out for various countries showing the health of their manufacturing industries.
Sam Ro has been cataloging the numbers here. And so far, things are looking pretty good!
The Asian economies really seem to be cranking, a fact corroborated by a very strong trade report, which is seen as a global bellwether.
China had one of its best reports in months.
And the U.K. just came out with a very solid October manufacturing number.
There's still European data to come (which will come out Monday) and of course we have to wait for the U.S. numbers, which might be impacted severely by the government shutdown (or it might not be if yesterday's strong Chicago manufacturing report is significant).
But anyway, so far so good.