CHART OF THE DAY: Global PMIs = Global #Quad3

Let’s look at some of the data that was reported this morning that’s reiterating Global #Quad3:

1. Eurozone PMI #slowed (again) to a contractionary 45.1 in DEC
2. United Kingdom PMI #slowed (again) to an 11-month low of 47.0
3. South Korea PMI #sloed (again) into contraction (to 49.0 vs. 50.6 last month)

“Contraction” in PMI and ISM reports are numbers < 50. Expansions, like the ones we’re seeing in the US are > 50.