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Economy

PMI: EU and China Spring Back to Life

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By Douglas A. McIntyre Updated Published
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Data from both China and the European Union showed that any post-recession slowdown will not turn into another dip. A few months ago, slowing PMI and EU economic numbers that dropped like a rock worried experts around the world.

HSBC’s PMI figure showed China’s PMI at 51.2 in September, well above the 50 level, which is the break between contraction and expansion.

The Markit figure for EU PMI for the same month was 52.1, a 27-month high. Germany’s figure was 53.8, an eight-month high, and a number that shows the nation is in rapid expansion. Put together with GDP data and employment figures, and Germany is in better than a modest recovery, and well out in front of the balance of Europe. The rebound in all these numbers is what helped Angela Merkel be reelected.

As U.S. GDP and PMI figures have been mostly positive and unemployment, while high by historic standards, continues to drop, the global economy looks much better it did than six months ago.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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