Emerging Markets: Dark clouds over manufacturing - TDS
Mitul Kotecha, senior emerging markets strategist at TD Securities, explains that the Emerging Market manufacturing has maintained the trend of deterioration over 2018 as the sentiment worsened in December.
“The outlook over 2019 does not look much better given slowing growth in major economies and removal of major central bank policy accommodation.”
“China continues to act as a drag on Asian PMIs, with its manufacturing PMI falling into contraction despite stimulus measures.”
“EMEA's PMI continues to be the worst among EMs but within the region sentiment is mixed, with Turkey a major laggard. Latam's PMI remains steady in expansion territory, but Mexico is underperforming, with its PMI pointing to manufacturing contraction there.”