By Gualberto Ranieri (AUBURN HILLS, MI) – On May 22, 2013, Tesla, a California-based Electronic Vehicle manufacturer, said it has repaid a DoE loan adding that, “Tesla will be the only American car company to have fully repaid the government.” The information is unmistakably incorrect. It’s pretty well-known that almost exactly two years ago – [...]
By Jack Kennedy, Senior Economist at Markit (LONDON, ENGLAND) – Worldwide steel-using firms reported a weaker expansion of output during April. The latest data from Markit showed that production at intensive users of steel rose at the slowest pace in five months, with growth moderating from the two-year high registered in March. Underlying the slowdown [...]
By Chris Williamson, Chief Economist at Markit (LONDON, ENGLAND) – Official data confirmed the upbeat message from recent PMI surveys, indicating that Japan has surged out of recession. Gross domestic product grew 0.9% in the first quarter, its fastest pace of expansion for a year. The economy also grew 0.3% in the final quarter of [...]
By Chris Williamson, Chief Economist at Markit (LONDON, ENGLAND) – The Eurozone’s two largest economies fared worse than expected at the start of the year, piling further pressure on the ECB to act soon to do more to reinvigorate growth. Germany returned to growth, as expected, but only just managed to avoid falling back into [...]
By Chris Williamson, Chief Economist at Markit (LONDON, ENGLAND) – Eurozone industrial production rose surprisingly strongly in March, but divergent trends within the region and recent weak business surveys suggests there is scant evidence to suggest that the region is staging any sort of sustained industrial-led recovery. Official data showed Eurozone industrial production rising 1.0% [...]
By Chris Williamson, Chief Economist Markit (LONDON, ENGLAND) – The US Fed will be reassured by better than expected sales growth in April, but will be cautious about reading too much into one month’s data. Instead, an on-going weakening in the trend rate of sales growth will most likely encourage policymakers to refrain from easing [...]
By Chris Williamson (LONDON, ENGLAND) – The Bank of England’s Monetary Policy Committee voted to keep policy unchanged at its May meeting, with interest rates held at 0.5% and its asset purchase programme steady at £375bn. With the economic data flow improving in recent weeks, no change is likely at its June meeting either, but [...]
(SEATTLE, WA) – Seattle Mayor Mike McGinn announced today that he has directed City departments to build on earlier "green fleet" efforts to meet the challenge of cutting the City’s annual use of petroleum-based fuels by 1 million gallons by 2020. Accomplishing this goal will require improving operational efficiencies, making investments in alternative-fuel infrastructure, and [...]
By Chris Williamson (LONDON, ENGLAND) – China’s official data showed an upturn in growth of both imports and exports in April, but the volatile data disguise a trend of slowing growth which corresponds with the message from business surveys. Exports rose 14.7% compared to a year ago in April, an improvement in the rate of [...]
By Chris Williamson (LONDON, ENGLAND) – The JPMorgan Global PMI, compiled by Markit, fell from 53.0 in March to 51.9 in April, indicating the weakest pace of worldwide economic growth for six months. Rates of expansion deteriorated in both the manufacturing and service sectors, hitting four- and ten-month lows respectively. A second month of slowing [...]
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