Thursday, August 2, 2012

2/8/2012: Inverting reality?

I have to share with you this:

The link to the RTE piece on this research is here

The link to my analysis of Irish Manufacturing PMIs which, according to the KBC Bank Ireland/Chartered Accountants Ireland Business Sentiment survey, is the sector constrains growth as opposed to domestic services that allegedly support growth is here.

Updated: Today's Services Sector PMI release for Ireland confirms my criticism of the Confidence Survey with Service sector posting a third consecutive month of decline in activity 49.1 in July from 49.7 in June. Thus, we now have: 3 consecutive months of expanding PMI on Manufacturing side, 3 consecutive months of contracting PMI on Services side. Largest decline in Services (44.5) was in domestically-focused Business Services segment.

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