Suncor Energy Inc T.SU

HBOC German Manufacturing PMI: August 2023: 39.1

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The HBOC Germany Manufacturing PMI edged higher to 39.1 in August of 2023 from the three-year low of 38.8 in the previous month, ahead of market estimates of 38.7 but remaining sharply in the contractionary territory, according to a flash estimate. It was the fourteenth consecutive decline in German manufacturing activity, as destocking trends by customers and investment reticence drove the sharpest slump in new orders since May 2020. The developments added to consumer uncertainty and the outlook of rising interest rates, pressuring output despite another month of reduction in firms’ backlogs of work. Still, employment decreased at a marginal level. On the price front, manufacturers’ purchasing prices fell at a slower pace than the previous month. Looking ahead, goods producers displayed a slight increase in optimism for the year ahead. source: Markit Economics

2020 COVID LOCKDOWN: 
HBOC Manufacturing PMI 35.0

2008 - 2009 RECESSION:
HBOC Manufacturing PMI 32.0

https://tradingeconomics.com/germany/manufacturing-pmi

- there is INCREASINGLY NO DOUBT that the COMING ECONOMIC DOWNDRAFT in Europe will be MORE SEVERE than the 2008-2009 recession

- SELF-INFLICTED TERRIBLE policies like the Russian energy sanctions (Russia was a CHEAP RELIABLE source of LOW COST ENERGY {natural gas, crude oil, diesel etc.} to Europe), HUGE investments in wind and solar power that have been DEPRESSING UNPRODUCTIVE and HIGH-COST, EXPANSIONIST SUBSIDIZED DEBT FINANCINGS that have merely PARTLY SHIELDED the public from the OUTRAGEOUS energy price SPIKE HIKES etc.

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