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7 Oct, 6 tweets, 6 min read
Markit's Eurozone Manufacturing PMI rose +2.0 points in September to 53.7, indicating stronger recovery momentum. Output and new orders are up, supported by a resurgence in exports. markiteconomics.com/Public/Home/Pr…
Markit's Eurozone Services PMI fell -2.5 points in September, back into modest contraction at 48.0. This pulled the Composite PMI down -1.5 points to a tepid 50.4. This was the result of renewed measures to contain a second wave of COVID-19. markiteconomics.com/Public/Home/Pr…
Germany fared better than most in Europe, with Markit's Manufacturing PMI rising +4.2 points in September to a solid 56.4, but its Services PMI fell -1.9 points to a meager 50.6.
Markit's Italy Manufacturing PMI rose +0.1 point in September to 53.2, indicating continued recovery. Its Services PMI rose +1.7 points to 48.8, but remains (once again) in contraction for the second month running.
Markit's France Manufacturing PMI rose +1.4 points in September to 51.2, back into (modest) recovery. But France's Services PMI fell -4.0 points back into contraction at 47.5, as it faced a second wave of COVID-19.
Markit's Spain Manufacturing PMI rose +0.9 points in September, back into (modest) recovery at 50.8. But, hit with a second outbreak of COVID-19, its Services PMI plunged -5.3 points, back to a sharply contractionary 42.4.

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More from @prchovanec

Patrick Chovanec Profile picture
9 Oct
The US reported +930 coronavirus deaths yesterday and +957 today, bringing the total to 217,738. The 7-day moving average is holding steady at around 725/day. Image
The US had +49,355 new confirmed coronavirus cases yesterday and +56,652 today - the highest number since August 14th - bringing the total to over 7.8 million. The 7-day moving average has risen back to nearly 47k/day. Image
Texas had >4k new cases today
4 states (CA, FL, WI, IL) had >3k each
NC had >2k
A strikingly large 16 states had >1k each today Image
Read 27 tweets
Patrick Chovanec Profile picture
8 Oct
In the strictest sense of pure majoritarianism, no. But in the broader sense of sovereignty rooted in the popular will expressed through elections, subject to self-imposed constitutional limitations, yes, we are. We are a democratic republic.
"deriving their just powers from the consent of the governed"
Lee's argument re "democracy" would be an interesting debate in a class on political philosophy. Coming from a senior elected official on the verge of a hotly contested and perhaps even disputed national election, it strikes all the wrong notes.
Read 4 tweets
Patrick Chovanec Profile picture
8 Oct
Body language is important. But I think a lot of the post-debate critiques of body language are overdone. Partisans on both sides see what they want to see, from both candidates.
The same, btw, goes for judicial nomination hearings.
If you like a candidate or nominee, everything they do is just how a credible person would act. If you don't like them, everything they do reeks of insincerity and smarminess.
Read 4 tweets
Patrick Chovanec Profile picture
8 Oct
1. Yesterday, in the new Microsoft Flight Simulator 2020, I continued my trip around the Mediterranean, flying from Beirut up to the Qadisha Valley where the last Lebanon cedars are, over the mountains, down the Beqaa Valley, and on down to land in Damascus.
2. These are places I visited during my trip to Lebanon, and I was astonished at how recognizably similar it was to real life. I could even see the small stand of remaining cedars as I flew over them at 11,000 feet.
3. The Roman ruins at Baalbek aren't modeled in any detail, but you can see where they are. The sense you get of the topography is incredible.
Read 7 tweets
Patrick Chovanec Profile picture
7 Oct
My concern about this debate has nothing to do with who might win or lose politically. Either one of them stands to lose a lot more than that if they're not careful. That would be a true - and unnecessary - tragedy.
For the life of me, I can't comprehend why they couldn't do this debate virtually.
If Trump really did catch COVID at the Rose Garden event, and then neglected to be tested before the debate, the risk that was taken - created, rather - truly boggles the mind.
Read 4 tweets
Patrick Chovanec Profile picture
7 Oct
The US reported +790 coronavirus deaths yesterday, brining the total to 215,822. The 7-day moving average continues to hold at just above 700/day.
The US had +43,660 new confirmed coronavirus cases yesterday, bringing the total to over 7.7 million. The 7-day moving average has been slowly rising again to over 44k/day.
The number of active cases in the US has been holding steady at just over 2.5 million.
Read 9 tweets

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