PMI, ISM with comment

hello everybody :)

On Monday we met PMI readings for all euro area countries. The results below:

Poland - PMI (November): 54.4 points; expected: 53.6 points; previous: 53.4 points. Highest since April 2011.

Spain - PMI (November): 48.6 points; expected: 51.1 points; previous: 50.9 points. Lowest since June.

Switzerland - PMI (November): 56.5 points; expected 55.0 points; previous: 54.2 points.

Italy - PMI (November):  51.4 points; expected 50.9 points; previous: 50.7 points. Best since June 2011.

France - PMI (November): 48.4 points; expected: 47.8 points; previous: 49.1 points.

Germany - PMI (November): 52.7 points; expected: 52.5 points; previous: 51.7 points. Best since June 2011.

Eurozone - PMI (November): 51.6 points; expected: 51.5 points; previous: 51.3 points. 

UK - PMI (November): 58.4 points; expected: 56.3 points; previous: 56.0 points.

Denmark - PMI (November): 58.1 points.

Greece - PMI (November): 49.2 points; previous: 47.3 points.

US - PMI (November): 54.7 points; previous: 54.3 points

US - ISM (November): 57.3 points; expected: 55.0 points; previous: 56.4 points. The highest level since April 2011.

Employment sub-index 56.5 points in October was 53.2 points. Production and orders grove up over 60 points. Prices paid by manufacturers down from 55.5 to 52.5

This is undoubtedly good news for the U.S. economy. When it comes to the real economy, it is as high ISM is a good estimate for the beginning of next year. ISM has a positive effect on, among other things getting better situation on the real estate market - the construction of houses represent an increase in orders for machinery construction. Employment Index also was positive. Importantly, the Index rising six months in succession and is the longest such series since 2009

regards,

oscarjp