In the latest edition of the Numbers Report, we will take a look at some of the most interesting figures put out this week in the energy and metals sectors.
Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.
Let’s take a look.
Asia’s Manufacturing Plunges on Trump Tariffs
– In the first month of Donald Trump’s import tariffs, even if temporarily capped at 10% for most, Asian countries have seen an across-the-board contraction in manufacturing activity, awaiting clarity on how tariff wars will pan out.
– Philippines and India are the only major Asian countries to experience an expansion in manufacturing in April, whilst Indonesia and South Korea have been the most adversely affected.
– US ally Taiwan now expects industrial production to decline for the next 12 months, with the country’s Institute of Economic Research cutting its 2025 GDP growth forecast from 3.4% previously to 2.9%.
– Interestingly, China’s PMI index is not yet in contraction with April 2025 assessments coming in at 50.4 (the consensus expectation was 49.9, however the contraction didn’t happen yet), however multi-year low confidence levels indicate that Beijing would catch up with other Asian nations soon.
Gold Bulls Taper Their Interest After Spectacular Rally
Gold prices have retracted this week after one of the most impressive rally’s in recent history.
