Thursday, July 01, 2010
Hints of a manufacturing slowdown - credit conditions subdued
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

By any normal standards, a purchasing managers' index of 57.5 for manufacturing is strong, though it was slightly down on the 58 levels recorded in both April and May. Markit, which produces the data, notes a sharp slowdown in export orders, probably because of the eurozone's difficulties. This is one to watch.

Meanwhile, the Bank of England's Credit Conditions Survey showed subdued demand and supply of credit, for both households and businesses. It also showed a drop in default rates in the latest three months, some of it unexpected. More here.