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  • Squawk / 8 hours ago
    Head of Macro Strategy / Saxo Bank
    US PMI manufacturing climbs to 55.7 in final March report:

    The final March report from Markit resulted in an upward revision to the headline PMI manufacturing index to 55.7 from 55.3 originally and 55.1 prior. The March reading is the highest in five months.

    The ISM manufacturing report will be out in 10 minutes.
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    Mads Koefoed Mads Koefoed
    ISM manufacturing prints just 51.5 vs. 52.5 expected and 52.9 prior. The new orders and employment indices both decline.
  • Squawk / 11 hours ago
    Head of Macro Strategy / Saxo Bank
    Irish unemployment declines to 10% in March:

    The Irish economy continues to recovery quickly from its deep recession. Further evidence of this development has come today in the shape of a labour market, which shows that the unemployment rate declined to 10% last month from 10.1% prior and 15% at the peak in February 2012.

    Jobless claims declined by 4,700 to 350,600, the lowest reading since February 2009. Since the peak the number of people getting jobless benefits has dropped by 98,300.

    I expect the Irish economy to grow around 3.5% in both 2015 and 2016 following an increase of 4.8% last year. GDP is currently 3.5% below the peak-crisis peak, but up 9.8% from the trough.
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    Juhani Huopainen Juhani Huopainen
    The nice thing is that the lower unemployment rate is not due to people dropping out of the labour force.
  • Squawk / 14 hours ago
    Head of Macro Strategy / Saxo Bank
    Global PMI day sees China, euro area surprise to the upside:

    A string of economies report March PMI manufacturing figures today led by China. The world's second-largest economy recorded a 50.1 reading last month vs. 49.7 expected and 49.9 prior. Also the unofficial HSBC China PMI manufacturing index was stronger than expected at 49.6 vs. 49.3 expected and 49.2 prior. Meanwhile Japan saw an unchanged if quite small increase in manufacturing output (50.3 vs. 50.4 prior).

    Turning to Europe, the euro area (EZ) PMI manuf. index was revised up in the final report to 52.2 vs. 51.9 exp and 51.9 originally (51 in Feb). This is the strongest reading for the EZ since May 2014. Both France and Germany's indices were revised higher in the final report. Italy, Sweden and Switzerland all surprised positively while Spain and Ireland remain robust.

    I expect EZ growth of at least 1.5%. Consensus sees 1.3%. See our Essential Trades for more:
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  • Article / 17 hours ago

    3 Numbers: Upbeat Spanish manufacturing PMI; US ADP jobs; US industry

    editor/analyst /
    United States
    3 Numbers: Upbeat Spanish manufacturing PMI; US ADP jobs; US industry
    Spain is a bright spot for the Eurozone, and today's Manufacturing PMI should signal continued economic growth. In the US, the ADP release for private payrolls in March is expected to reveal a solid gain of 230,000 jobs – a modest improvement over February’s 212,000 rise. But in contrast to the encouraging news on employment, today’s ISM release may reveal signs of a troubling deceleration in US manufacturing.
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