Purchasing Managers News

In the October update of "Global Trade Outlook and Statistics", WTO economists provide new analysis on the build-up in inventories in 2025 and the robust trade in artificial intelligence-related goods such as semiconductors, servers, and telecommunications equipment.They note however that trade growth will likely slow in 2026 as the impact of the cooling global economy and new tariffs set in.Director-General Ngozi Okonjo-Iweala said: "Countries' measured response to tariff changes in general…

A downturn in Egypt's private sector activity deepened in February as a drop in Suez Canal freight due to attacks on shipping in the Red Sea worsened a long-running foreign currency shortage, a survey showed on Tuesday.The S&P Global Purchasing Managers' Index (PMI) for Egypt slipped to 47.1 in February from 48.1 in January, remaining below the 50.0 threshold that separates growth from contraction for a 39th consecutive month.The overall index reading was the lowest for 11 months…

U.S. manufacturing of durable goods, which has been lagging the wider recovery of the U.S. economy, hit an all-time high in June when $270.5B worth of goods was produced. This brings total manufacturing of durable goods so far this year to $1,482 billion, a 15.5% increase compared with the first half of 2020.Since the production of durable goods in the first half of 2021 is up 1.6% from the first half of 2019, this section of the industry has now officially returned to its pre-pandemic levels.Manufacturing activity is expected to have continued its growth in July…

China extended its impressive trade performance in April, with exports unexpectedly accelerating and import growth hitting a decade high, in a boost to the world’s second-largest economy.A brisk U.S. economic recovery and stalled factory production in other countries hit by coronavirus have propped up demand for goods made in China, analysts say.Exports in dollar terms surged 32.3% from a year earlier to $263.92 billion, China’s General Administration of Customs said on Friday…

The World Health Organization (WHO) has declared the outbreak of the novel coronavirus a pandemic. There is little doubt that this will have significant implications for the shipping industry. But to what extent? BIMCO expects that the strict containment measures imposed by governments around the world will result in substantially lower global economic growth and consequentially, lower demand for shipping. Container and dry bulk shipping are at the front line when it comes to feeling the fallout…

The current global economic growth (GDP) looks like it may be as good as it gets, with indicators across the globe signaling healthy expansion, but at a slower pace compared to the levels seen in the last half of 2017.Global economic growth seems on track to reach its highest level since 2011, as the International Monetary Fund (IMF) maintain its projection for the world GDP at 3.9 percent and expects the global economic growth to be supported by a strong momentum, favorable market sentiment and accommodative financial conditions in 2018 and 2019.

The recent months’ uptick in global indicators, which implies a strengthening in the global economy, is not sufficient for the patient to be discharged yet. The state of the global economy is still uncertain, despite stronger growth dynamics in advanced economies, and not least in China. When the IMF updated its outlook for advanced economies for 2017 and 2018 in January, it was the first time since 2007 that an IMF January update lifted expectations for the present and coming years.

Susan Bonivich, OEM/dealer sales manager for Volvo Penta of the Americas, was named the 2016 Darlene Briggs Woman of the Year at the Marine Dealer Conference & Expo today in Orlando, Fla. She is the second woman in the company to earn the distinction within the past 10 years. Presented by the MRAA Educational Foundation and Boating Industry magazine, the award is named for industry leader Darlene Briggs and is given annually to an outstanding woman who demonstrates leadership, commitment and the advancement of women in the boating business. “Susan Bonivich represents the spirit of what is great about this industry,” said Ron Huibers, president, Volvo Penta of the Americas. “She develops and nurtures relationships that are time and event tested.

Global distillate markets remain heavily oversupplied but the glut will not clear unless the world economy avoids recession and there is a renewed acceleration in freight demand. Recent data have been mixed. The consumer side of the U.S. economy appears to be strong but the industrial side is still struggling, and in the rest of the world growth appears to be slowing. U.S. freight movements picked up at the start of the year but demand for moving manufactured products and raw materials across the country remains sluggish. Combined freight movements by road, rail, barge, pipeline and aircraft increased in December and January, the first time freight has increased for two consecutive months since November 2014 (http://tmsnrt.rs/1pa8DbM).

Brent crude fell below $86 a barrel on Friday on news of strong supply from Middle Eastern OPEC producers and as a confirmed case of Ebola in New York spooked global equities markets. Iraq increased its oil supply in October, and Libya's production remained high, despite deep instability in both countries. Brent crude for December fell $1.02 a barrel to a low of $85.81 and was trading around $85.90 by 1205 GMT. U.S. December crude fell 85 cents to $81.24 a barrel. On Thursday Brent crude prices rose sharply on news of lower supply from Saudi Arabia…

Brent crude fell for a third day on Wednesday, slipping further below $97 a barrel as inflated supplies and weak economic data from Europe outweighed rising geopolitical tensions in the Middle East. * U.S. The European economic data and a rise in oil exports from Iraq and Nigeria overshadowed a boost from China with Tuesday's release of a better-than-expected flash Purchasing Managers' Index (PMI) for September. U.S. air strikes on militants in Syria also failed to lift prices. Brent for November delivery slipped 1 cent to $96.84 a barrel by 0704 GMT, although U.S. crude rose 29 cents to $91.85 a barrel. "Oil prices did not really gather the support coming from China's manufacturing data from yesterday as softer European manufacturing data followed…

The slowdown in Chinese industrial production growth ads to the existing concerns that China is going through challenging times, as Beijing aims for a soft landing and a transition of the economy, BIMCO reported, adding that the demand for dry bulk shipping and container shipping is bound to change accordingly. China Industrial Production continued along the retreating path of the Purchasing Managers Indexes published a fortnight ago. The industrial production indicator, measured by the percentage change year-over-year, increased by 6.9% in August.

The International Monetary Fund (IMF) has downgraded its global growth projection from 3.7% in April to 3.4% in July. The adjustment is primarily due to the large negative result in the U.S. in the first quarter of the year. The IMF stressed that this is now behind us – and it therefore sticks to its 2015 projection with an unchanged growth level of 4.0%. Moreover, the outlook for the various emerging markets including, amongst others, Russia, ASEAN-5, Brazil, Mexico and South Africa, is now less optimistic compared to the assessment made three months ago.

The global economic recovery continues along the rather bumpy lines described in the most recent report on macro economics from BIMCO. Chief Shipping Analyst at BIMCO, Peter Sand, said, "Economic data coming in today dampens optimism for the Euro zone a bit. A lower of level of GDP growth and inflation is affecting shipping demand slightly negatively. Bloomberg reported, The European Commission trimmed its economic growth forecast for the Euro area and predicted low inflation to remain a threat to expansion for at least the next two years.

China’s aim of 7.5% GDP growth for 2014 is positive news for the shipping market – in particular, dry bulk, the Baltic and International Maritime Council (BIMCO) said in a report published today. Despite being a little down on the 2013 GDP growth of 7.7%, BIMCO said the growth target of 7.5% set by China’s Premier Li Keqiang at his first appearance at China’s annual parliamentary session bodes well for shipping, trade and commodity demand in 2014. In 2013, Chinese seaborne imports surpassed the 2 billion metric tons, mark according to CRSL.