Tuesday, September 10, 2013

10/9/2013: PMI and the real economy: Goldman Sachs notices disconnect

So ZeroHedge picks on Goldman Sachs taking the Euro area PMIs apart along the same lines as my recent criticism of the headline index: http://www.zerohedge.com/news/2013-09-09/goldman-pours-cold-water-exuberance-european-pmis.

Here is my take:

  1. Irish Services PMI detached from reality: http://trueeconomics.blogspot.ie/2013/09/592013-cautionary-note-on-irish.html
  2. Irish Construction Sector PMI tracking itself, rather than actual construction activity: http://trueeconomics.blogspot.ie/2013/09/292013-sunday-times-august-25.html
  3. Both Manufacturing and Services PMI failing to explain/track economic growth: http://trueeconomics.blogspot.ie/2013/07/772013-irish-manufacturing-services-pmi.html
  4. The point at which Markit stopped reporting actual sub-indices series or even current month values: http://trueeconomics.blogspot.ie/2013/07/772013-services-pmi-for-ireland-june.html
And so on... 

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