Fisher Investments Reviews: Last Week in Markets—February 3 - February 7

In the US, final January S&P Global Manufacturing and Services Purchasing Managers’ Indexes (PMIs) were 51.2 and 52.9, respectively. Readings over 50 indicate expansion. January nonfarm payrolls rose by 143,000. The January unemployment rate rose 4.0%.

In the UK, the final January S&P Global Manufacturing and Services PMIs were 48.3 and 50.8, respectively. The Bank of England’s Monetary Policy Committee lowered its bank rate by 25 basis points to 4.5%.

In the eurozone, December retail sales fell 0.2% m/m and grew 1.9% y/y, in line with expectations. Final January HCOB Manufacturing and Services PMIs were 46.6 and 51.3, respectively. January preliminary core consumer inflation (which excludes energy, food, alcohol and tobacco) grew 2.7% y/y. January preliminary consumer inflation rose 2.5% y/y, above market expectations.

In Japan, the December preliminary leading economic index increased to 108.9, surpassing market estimates. The final January Jibun Bank Manufacturing and Services PMIs were 48.7 and 53.0, respectively.

In China, January Caixin Manufacturing and Services PMIs declined to 50.1 and 51.0, respectively.

The Week Ahead

The US releases CPI numbers. US and the UK report trade and manufacturing data. Eurozone, and the UK announce GDP information. The UK, eurozone and US release industrial production numbers. China reports M2 money supply data.

Source for all data cited is FactSet. This update constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice. No assurances are made we will continue to hold these views, which may change at any time based on new information, analysis or reconsideration. In addition, no assurances are made regarding the accuracy of any forecast made herein. Global equities are represented by the MSCI World Index. The MSCI World Index measures the performance of selected stocks in 23 developed countries and is presented net of dividend withholding taxes and uses the maximum rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. Past performance is no guarantee of future results. A risk of loss is involved with investments in stock markets.