Chart 1: Export orders are particularly weak in the euro area PMI index, new export orders in the manufacturing sector
65
65 Euro area
Global
United States
China
60
60
55
55
50
50
45
45
40 Jan-16
Apr-16
Jul-16
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
40
Source: IHS Markit PMI indicators.
Chart 2: Investment goods production has slowed sharply in the euro area and Japan Y-o-y % changes, 3-month moving average
10
Euro area
Japan
USA
10
8
8
6
6
4
4
2
2
0
0
-2
-2
-4
-4
-6
-6
-8 -8 Jan-2016 Apr-2016 Jul-2016 Oct-2016 Jan-2017 Apr-2017 Jul-2017 Oct-2017 Jan-2018 Apr-2018 Jul-2018 Oct-2018 Jan-2019 Source: OECD (2019), OECD Main Economic Indicators (database).
1