HEADS UP: The world's biggest economies are rolling out their July manufacturing PMI reports right now, and the party will end at 11:00 a.m. ET, Thursday. And this is our scorecard.

So far, we've learned that most of Asia is either decelerating or contracting. Japan, South Korea, Taiwan, Vietnam, and Indonesia all reported deteriorating numbers in July.

China's official PMI number climbed, but its unofficial HSBC PMI number fell.

The global economic tides appear to be turning. Economic data in recent weeks have shown that China's hot economy is slowing quickly.

Meanwhile, the beleaguered eurozone economies have been showing signs of life. Italy, France, Germany, and Greece all reported notable improvements in activity.

The U.S. economy seems to be heading in the right direction. The ISM and PMI surveys both showed significant gains.

PMI

At the beginning of each month, Markit, HSBC, RBC, JP Morgan, and several other major data gathering institutions publish the latest local readings of the manufacturing purchasing managers index (PMI) for countries around the world.


Read more: http://www.businessinsider.com/july-...#ixzz2akp0GTLL

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