Fisher Investments Reviews: Last Week in Markets—February 2 - February 6

In the US, January final S&P Global Manufacturing and Services Purchasing Managers’ Indexes (PMIs) were 52.4 and 52.7, respectively. Readings above 50 indicate expansion.

n the UK, the January final S&P Global Manufacturing and Services PMIs were 51.8 and 54.0, respectively. The Bank of England left their benchmark Bank Rate unchanged at 3.75%. In the eurozone, January final HCOB Manufacturing and Services PMIs were 49.5 and 51.6, respectively. January flash consumer inflation decelerated to 1.7% y/y. January flash core consumer inflation (which excludes energy, food, alcohol, and tobacco) decelerated to 2.2% y/y. December retail sales fell 0.5% m/m and grew 1.3% y/y, lower than estimates. The European Central Bank left interest rates unchanged at 2.15%.

In Japan, The January final S&P Global Manufacturing and Services PMIs were 51.5 and 53.7, respectively. In China, The January RatingDog Manufacturing and Non-Manufacturing PMIs—focused on large, state-owned firms—were 50.3 and 52.3, respectively.

The Week Ahead

The US and China release January inflation data. The UK and eurozone report Q4 GDP figures. The US releases December retail sales, January unemployment, and nonfarm payrolls. The UK reports Q4 trade data, along with December manufacturing and industrial production. Japan releases January bank loans while China reports January money supply (M2) and loan growth.

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.