From the latest Global manufacturing report:

“Conditions in the global manufacturing sector remained lacklustre in November.”

Global Manufacturing PMI:

Global PMI vs MSCI ACWI (Source: Markit):

Global PMI + “Top 4” PMI:

Gloabl PMI + “Top 4” PMI Momentum:

Yes, Europe… peaked in Dec17-Jan18 and coming down hard since then.

Euro PMI vs MSCI Eurozone – EZU:

I hope it helps,
Gregoire

 

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