There is no question that things are tough all over as the mega-collapse continues.
Things Are Tough All Over
May 4 (King World News) – Chris Williamson, Chief Business Economist at IHS Markit: Manufacturing output in Italy declined at an unprecedented pace as the COVID-19 lockdown continued. The PMI dropped to an all-time low of 31.1 in April (down from 40.3 in March), with new orders also falling at the quickest rate on record. (See below).
Italian Collapse Breaking Records
Eurozone
Eurozone Manufacturing PMI at 33.4 in April (44.5 – March), plunging to a record low. Output collapsed amid COVID-19, pointing to a severe drop in industrial production that approaches double-digits. (See below).
Eurozone Collapse Breaking Records
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Vietnam
April PMI signalled that Vietnam’s manufacturing downturn intensified as a result of COVID-19. The extent of the decline was unprecedented in over nine years of data collection. Severe declines in output and new orders were reported. (See below).
Vietnamese Collapse Breaking Records
Malaysia
COVID-19 measures led to a sharp fall in Malaysian manufacturing activity. Headline PMI slumps to 31.3 in April. Domestic demand was hit hard by containment rules and production at many firms was curbed by business closures. (See below).
Malaysian Collapse Breaking Records
Philipines
Philippines’ manufacturing downturn deepened in April amid the lockdown of a large part of the economy to stem COVID-19 spread, according to latest PMI data. Output, new orders and exports fall at quickest rates in survey history. (See below).
Philippine Collapse Breaking Records
Also of importance…
Total Loss Of Confidence
Ian Stewart, Chief Economist at Deloitte in the UK: Business confidence among the 104 CFOs who participated fell to the lowest level in the 12-year-history of the survey (see below).
TOTAL LOSS OF CONFIDENCE: Chief Financial Officers Have
Lost Faith In The Prospects Of Their Company’s Future
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Scary
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