Manufacturing Indexes In The Green Around The Globe, But Jobs Continue To Be Lost
Across the globe, the term “green shoots” is taking some reality with each economic statistics being published.
First in line to report were the Chinese, where the stimulus confirmed its positive effects with an August PMI superior by 0.7 % to the July one.
Further confirming these good manufacturing reports, the fact that Japan increased its manufacturing production by 1.9 % during the month of July as well.
Thereafter, the European manufacturing contraction eased somewhat more, to 48.3 % compared to 46.2 % in July. The European PMI was at its highest in 14 months.
However, cooling down these positive news, the fact that job losses reached 9.5 % in the Euro zone in July, the highest rate in 10 years. However several countries reported an inflection of their curves, Belgium, for instance, reporting a pullback by 0.1 % of the unemployment.
In Germany, the unemployment fell in the amount of 1.000 persons, but this was essentially thanks to a measure of the German government that aimed at encouraging companies to put people preferentially on part-time jobs rather than long-term.
