May HSBC/Markit China PMI At 48.7
HSBC/Markit PMI fell from 49.3 to 48.7.
Large discrepancy between HSBC/Markit and “official” PMI.
Archive for May, 2012
Tanker Weekly – May 21, 2012
Baltic Dirty Tanker Index rose 0.7%; Baltic Clean Tanker Index rose 0.3%.
Dry Bulk Weekly – May 21, 2012
Baltic dry index rose 0.3% last week; Capesize Index was up 1.2%; Panamax Index fell 3.6%; Supramax Index was down 0.4%; Handysize Index rose 3.7%.
Iron ore inventory at Chinese ports mostly flat, price moved lower on risk-off. Steel stockpiles fell further, but remained at elevated levels while price moved marginally lower. Thermal coal inventory rose, price remained unchanged.
China New Loan Issuance Slows Down In April; Rate Of Money Supply High
The most broad measure of money supply – M2 rose 17.5% y-o-y in April vs. 18.1% rise in March.
Chinese banks issued CNY 682 billion of new loans in April vs. CNY 1,010 billion in March and consensus of CNY 780 billion. New loan issuance first four months this year is 4.9% higher than in first four months 2011.
China Retail Sales Up 14.1% In April
China retail sales rose 14.1% y-o-y in April vs. 15.2% March reading. Consensus was at 15.1%.
China Fixed Asset Investments Rose 20.2% In April
China fixed asset investments were up 20.2% y-o-y in April; March reading was at 20.9%. Consensus was at 20.5%.
Lowest reading since 2002.
Chinese Industrial Production Rose 9.3% In April
Industrial production in China rose 9.3 % y-o-y in April; March reading was at 11.9%. Consensus was at 12.2%.
Another bad piece of data.
China April CPI Inflation At 3.4%; PPI Inflation At -0.7%
China Consumer Price Index was up 3.4% in April, vs. 3.4% consensus and 3.6% March reading. Food inflation rose fell from 7.5 to 7.0%.
China Producer Price Index fell to -0.7% from -0.3% in April. Consensus was at -.5%.
The chart looks outright bad.
Chinese Trade Balance Surplus Larger Than Expected In April
China trade balance was reported at USD 18.4 billion vs. USD 5.4 billion in December and USD 9.9 billion consensus. Export and import growth were running at 4.9 and 0.3 percent vs. 8.9% and 5.3% in March.
Rig Count Monthly – May 8, 2012
Massive fall in gas drilling in recent months coupled with large increase in oil drilling.
Tanker Weekly – May 7, 2012
Baltic Dirty Tanker Index fell 2.1%; Baltic Clean Tanker Index fell 0.6%.
Dry Bulk Weekly – May 7, 2012
Baltic dry index rose 0.1% last week; Capesize Index was up 5.1%; Panamax Index fell 12.1%; Supramax Index was up 1.5%; Handysize Index rose 2.2%.
Iron ore inventory at Chinese ports and price mostly flat. Steel stockpiles fell further, but remained at elevated levels while price remained flat. Thermal coal inventory rose a bit, price unchanged.
ECRI Weekly Leading Index Growth Rate Moves Out Of Negative Teritorry
ECRI Weekly Leading Index for week ending April 27, 2012 was reported unchanged y-o-y. Prior reading was at 0.5%.
U.S. Freight Carloads Weekly – May 4, 2012
U.S. railroads originated 283,080 carloads, down 4.2% compared with the same week in 2011 and down 3.3% in relation to 5-year average. Week over week change was +0.3%.
April Nonfarm Payrolls Rose 115.000; Private Payrolls Up 130.000; Unemployment Rate At 8.1%
Nonfarm payrolls rose 115.000 in April; Consensus was at 160.000; March reading was an increase of 154.000 (revised up 34.000). Unemployment was reported at 8.1% vs. prior reading and consensus of also 8.2%.
Private payrolls were up 130.000 vs. 165.000 consensus and 166.000 reading in March (revised up 45.000).