Have a look at the the following mapped chart showing April 2012 PMI numbers.
PMI stands for performance of manufacturing index and readings below 50 (coloured pale pink, pink or red on the above map) denote a contraction in the activity with the distance from 50 indicative of the strength of the decrease.
Eric Platt/Business Insider
The second map is based on manufacturing reports from March, highlighting the rapidly changing conditions in both the U.S. (which saw continued strength), and Europe (which fell further into decline). It also shows improving conditions in Russia and worsening conditions in Australia and Brazil (commodity based economies with currency pressures).
Read more: here
For the Australian numbers and more information read here. An interesting point to note from the PwC/AI Group report is that April 2012 was the 119th consecutive month of increasing input prices across manufacturing industries in Australia.
On any analysis Australia's April PMI of 43.9 (a monthly drop of 5.6) shows a sharp decrease in manufacturing activity and must have formed a part in the RBA's decision last week to drop the cash rate by 50 basis points.
Other indicators are showing similar weaknesses. Australian Services and Construction sectors are both showing significant declines according to the PwC/AI Group report. You'll find commentary on this here too.
Following from our previous post about the international context of Australian investment decisions, these maps show quite clearly the strong improvement in the USA's manufacturing activity and the ongoing difficulties in Europe.
