Germany's long-term economic growth is forecasted to shrink to 0.3% due to demographic problems, low productivity growth, and shorter working hours, a third of the level before the pandemic. The Ifo Institute has cut Germany's 2024 growth forecast to 0.7% from 0.9% predicted in December. Meanwhile, France's manufacturing and services PMI flash actuals have fallen below forecasts, indicating a downturn. In contrast, India's economy grew rapidly in January, with services activity climbing to a six-month high and manufacturing picking up pace, according to a flash survey by HSBC. Eurozone business activity has shown signs of easing downturn, while the US and UK have seen improvements in business activity. The Eurozone manufacturing PMI rose to 46.6, the third consecutive increase, but remains downbeat. Similarly, the UK's PMI composite output index rose to 52.5, indicating a 7-month high. The S&P Global/CIPS flash UK purchasing managersโ index also showed expansion in the private sector. However, Germany's Ifo business climate and expectations have unexpectedly worsened, with the business outlook souring and the expectations index falling to 83.5 in January from 84.2 in December, indicating a tough start to 2024 for Europe's largest economy.
German business expectations worsen for a second month, wrong-footing analysts and adding to an already tough start to 2024 for Europeโs largest economy https://t.co/pvqzJS7DYt
RECESSIONS German IFO Business Climate survey weakened in JAN to 85.2 vs 86.4 DEC = lowest level for the headline reading since summer 2020 and the second consecutive drop https://t.co/NEOqhJUvix
Germanyโs business outlook unexpectedly sours https://t.co/E0KjPeU0JL via @WindSonja https://t.co/3q3Hfk19l7
German business expectations worsen for a second month, wrong-footing analysts and adding to an already tough start to 2024 for Europeโs largest economy https://t.co/DiayO2WKRa
German Ifo business climate index falls further in January https://t.co/BRUNf6TgY9
OUCH! #Germany has started 2024 on the wrong foot. Germanyโs Business Outlook unexpectedly soured at the start of 2024. Ifo expectations index worsened for a 2nd mth, fell to 83.5 in Jan from 84.2 in Dec, wrong-footing analysts who had expected a slight uptick. An index ofโฆ https://t.co/PE98cXP2ob
๐ฉ๐ช IFO Business Climate (Jan) Actual: 85.2 Expected: 86.7 Previous: 86.3 https://t.co/60QsmqCqoi
๐ด GERMAN IFO EXPECTATIONS ACTUAL 83.5 (FORECAST 84.8, PREVIOUS 84.3) $MACRO
German Ifo Business Climate Jan: 85.2 (exp 86.6; prev 86.4) - Ifo Current Assessment Jan: 87.0 (exp 88.5; prev 88.5) - Ifo Expectations Jan: 83.4 (exp 84.8; prev 84.3)
๐ด GERMAN IFO CURRENT CONDITIONS ACTUAL 87 (FORECAST 88.5, PREVIOUS 88.5) $MACRO
*GERMANY JAN. IFO BUSINESS CONFIDENCE INDEX 85.2; EST. 86.6
๐ด โ ๏ธ BREAKING: GERMAN IFO BUSINESS CLIMATE ACTUAL 85.2 (FORECAST 86.6, PREVIOUS 86.4) $MACRO
๐ฉ๐ช IFO Business Climate (Jan) Actual: 85.2 Expected: 86.7 Previous: 86.4 https://t.co/60QsmqCqoi
Heads Up:๐ฉ๐ช Ifo Business Climate (Jan) due at 09:00 GMT (15min) Expected: 86.7 Previous: 86.4 https://t.co/60QsmqCqoi
ECONOMY: The S&P Global/CIPS flash UK purchasing managersโ index (PMI) showed a reading of 52.5 for January, up from 52.1 in December. Any score above 50 is indicative of business activity expanding in the private sector. #UKGoodNews https://t.co/8uMLXSmN68
French Manufacturing Confidence Jan: 99 (est 100; prevR 99) - Business Confidence Jan: 98 (est 98; prev 98) - Production Outlook Indicator Jan: -7 (prev 10)
๐ซ๐ท Business Confidence (Jan) Actual: 99 Expected: 100 Previous: 99 https://t.co/60QsmqCqoi
๐ด FRENCH BUSINESS CLIMATE OVERALL ACTUAL 98 (FORECAST 98, PREVIOUS 98) $MACRO
Heads Up:๐ซ๐ท Business Confidence (Jan) due at 07:45 GMT (15min) Expected: 100 Previous: 100 https://t.co/60QsmqCqoi
๐ฎ๐ณ๐India PMI Accelerates for 4th Straight Month India PMI: 47.9 in Dec.โก๏ธ56.9 in Jan. With India ETFs $SMIN and $INDA at the low end of the range yesterday, @KeithMcCullough bought the dip. BSE Sensex was up +1.2% overnight. From today's Early Look: https://t.co/dA8LM0fMxf https://t.co/9VWYeEjs63
Fintwit: "Manufacturing PMIs are forecasting recession!" S&P Global Mfg Jan PMI: 50.3 vs 47.6 expected (47.9 previous). https://t.co/H5aSmkfeF1
โ ๏ธ US BUSINESS ACTIVITY PICKS UP IN JANUARY; INFLATION COOLING - S(and)P GLOBAL SURVEY (Reuters) U.S. business activity picked up in January and inflation appeared to abate, with a measure of prices charged by companies for their products falling to the lowest level in moreโฆ https://t.co/RSnlbh6oX3
January @SPGlobal U.S. Manufacturing PMI up to 50.3 vs. 47.6 est. & 47.9 prior; Services up to 52.9 vs. 51.5 est. & 51.4 prior; Composite up to 52.3 vs. 51 est. & 50.9 prior โฆ expansion driven by service providers as manufacturers continued to see drop in production amid supplyโฆ https://t.co/Q0VOrwmGPI
Is the bottom in? The Eurozone Manufacturing #PMI rose for the third consecutive month in January. Yet, it remains pretty downbeat at 46.6. https://t.co/7bPuKLoekE
Euro zone business downturn eases in January - Reuters https://t.co/R9clIRG6Fr
#Indiaโs economy grows rapidly in January, with #services activity climbing to a six-month high and #manufacturing picking up pace, a new flash survey by HSBC Holdings Plc shows. https://t.co/6CUm6PYJIv
Good Morning from Germany, which has had a difficult start to the year. Jan PMI remain bleak. Manufacturing PMI is in recession for 19th mth in a row. Although downturn has slowed here, service sector has slipped deeper into recession. PMI Services has fallen to lowest levelโฆ https://t.co/ffWkGtfrTy
Unlike in China, Europe, or the USA ... India's January manufacturing PMI rose to 56.9 from December's 54.9 = strongest growth in country's industrial sector in 4 months. Sub-indices including new orders, export orders grew https://t.co/nnXS3Qzsm5
โ ๏ธ UK SERVICES FIRMS GROW FASTER, BUT FACTORIES FEEL RED SEA HIT - PMI (Reuters) British services firms have seen another pick-up in growth this month, adding to signs of a modest recovery in the sluggish economy, although struggling factories are now being hit by theโฆ https://t.co/DWAEWdxeRN
๐ฅ flash UK #PMI composite output index (manufacturing and services) rose again in January to 52.5 (December 52.1), a 7-month high... ๐ Touch and go whether the UK avoided a technical '#recession' in the second half of last year, but 2024 already looking a lot brighter ๐ค https://t.co/EnvRB4oDHK
๐จ Breaking! ๐ช๐บEurozone Jan PMI rose to 46.6 ๐Manufacturing: 46.6 (Est. 43.8, Prev. 44.4) โ ๏ธ10-month high ๐Services: 48.4 (Est. 49.0, Prev. 48.8) โ ๏ธ3-month low ๐Composite: 47.9 (Est. 48.0, Prev. 47.6) โ ๏ธ6-month high #MM https://t.co/AqBvfj5u0n https://t.co/dp4zeovHhs
โ ๏ธ EURO ZONE BUSINESS DOWNTURN EASES IN JANUARY -PMI (Reuters) The downturn in euro zone business activity eased this month but an improvement in the manufacturing outlook was partly offset by a steeper decline in the bloc's dominant services industry, a survey showed onโฆ https://t.co/i7NrL7NHYB
EUROZONE MFG PMI FLASH ACTUAL 46.6 (FORECAST 44.7, PREVIOUS 44.4) EUROZONE SERVICES FLASH PMI ACTUAL 48.4 (FORECAST 49, PREVIOUS 48.8) EUROZONE COMPOSITE PMI FLASH ACTUAL 47.9 (FORECAST 48, PREVIOUS 47.6)
๐ด EUROZONE COMPOSITE PMI FLASH ACTUAL 47.9 (FORECAST 48, PREVIOUS 47.6) $MACRO
๐ฉ๐ช Germanyโs economic situation is going from bad to worseโฆ "Germany has faced a sluggish start to the new year," "Services activity has not only declined for the fourth consecutive month but has also accelerated in its downturn," https://t.co/JN5EpuujTj
โ ๏ธ GERMAN BUSINESS ACTIVITY DETERIORATES IN JAN -PMI (Reuters) Germany's economic downturn worsened this month with both manufacturing and services activity contracting, a preliminary survey showed on Wednesday. The HCOB German Flash Composite Purchasing Managers' Indexโฆ https://t.co/uTsgnJWPSQ
โ ๏ธGERMAN MFG PMI FLASH ACTUAL 45.4 (FORECAST 43.7, PREVIOUS 43.3) GERMAN SERVICE PMI FLASH ACTUAL 47.6 (FORECAST 49.3, PREVIOUS 49.3) GERMAN COMPOSITE PMI FLASH ACTUAL 47.1 (FORECAST 47.8, PREVIOUS 47.4)
Germany's Ifo institute trims 2024 GDP forecast again due to budget https://t.co/UqKB3DC6Eo https://t.co/vB2GFbZ4qr
๐ด โ ๏ธ BREAKING: GERMAN MFG PMI FLASH ACTUAL 45.4 (FORECAST 43.7, PREVIOUS 43.3) $MACRO
*GERMANY JAN. MANUFACTURING PMI 45.4; FORECAST 43.7 *GERMANY JAN. SERVICES PMI FALLS TO 47.6; FORECAST 49.3
FRENCH MFG PMI FLASH ACTUAL 43.2 (FORECAST 42.5, PREVIOUS 42.1) FRENCH SERVICES PMI FLASH ACTUAL 45 (FORECAST 46, PREVIOUS 45.7) FRENCH COMP FLASH PMI ACTUAL 44.2 (FORECAST 45.1, PREVIOUS 44.8)
๐ด FRENCH COMP FLASH PMI ACTUAL 44.2 (FORECAST 45.1, PREVIOUS 44.8) $MACRO
*FRANCE JAN. SERVICES PMI FALLS TO 45; FORECAST 46 *FRANCE JAN. MANUFACTURING PMI 43.2; FORECAST 42.5
โ ๏ธ GERMANY'S IFO INSTITUTE TRIMS 2024 GDP FORECAST AGAIN DUE TO BUDGET (Reuters) Germany's Ifo institute again downgraded its 2024 economic growth forecast on Wednesday, citing uncertainty caused by changes to the federal budget necessitated by a constitutional court ruling.โฆ
Indiaโs economy grew rapidly in January, with services activity climbing to a six-month high and manufacturing picking up pace, a new flash survey by HSBC shows https://t.co/EZEHq93kD1
๐ด GERMANY'S IFO INSTITUTE CUTS GROWTH OUTLOOK FOR 2024 TO 0.7%, DOWN FROM THE 0.9% PREDICTED IN MID-DECEMBER.
Germany's Ifo Institute: Cuts Growth Forecast For 2024 To 0.7% - Down From 0.9% Predicted In Mid-December
๐ด AUSTRALIAN MFG PMI FLASH ACTUAL 50.3 (FORECAST -, PREVIOUS 47.6) $MACRO
Hello from #Germany, whose long-term economic growth looks bleak. Potential growth will shrink to 0.3% in the coming years due to demographic problems, low productivity growth & ever shorter working hours. This is a third of the level before the coronavirus pandemic and isโฆ https://t.co/Vtm46LdDeI
Hello from #Germany, whose long-term economic growth looks bleak. Potential growth will shrink to 0.3% in the coming years due to demographic problems, low productivity growth & ever shorter working hours. This is a third of the level before the coronavirus pandemic. https://t.co/O2uteP9VYN