Deflation threatens as German PMI contracts, ISM Prices tumble, ruble wilts

by Ashraf Laidi

Dec 1, 2014 17:07

The 2^nd contraction in Germany's manufacturing PMI over the last three months, the lowest prices paid index figure in US manufacturing ISM in 23 months and fresh record lows in the Russian ruble, highlights the impending global disinflationary spiral in H1 2015, which would leave central banks, including the Fed, little choice but to continue talking the hawkish talk instead of walking the hawkish course. Full charts & analysis.

Click To Enlarge

Act	Exp	Prev	GMT
Markit US Manufacturing PMI (NOV) [F]
54.8	55	54.7	Dec 01 14:45
ISM Manufacturing PMI (NOV)
58.7	57.8	59.0	Dec 01 15:00
Germany Markit PMI Manufacturing (NOV)
49.5	50.0	51.4	Dec 01 8:55
ISM Prices Paid (NOV)
44.5	52.0	53.5	Dec 01 15:00

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