EcoWeek

PMI:Rising price pressures

Eco week 21-18 // 10 May 2021  
economic-research.bnpparibas.com  
6
PMI: RISING PRICE PRESSURES  
Sentiment in the manufacturing sector improved further at the global The strong rise of the new export orders component of the manufacturing  
level, driven by better numbers in the majority of advanced economies – PMI continues. The numbers are particularly strong in the advanced econ-  
where very high levels have been reached – whereas the picture is mixed omies – Greece being an exception – whereas in the emerging countries  
in emerging countries. Nevertheless, in this part of the world as well, the the level is lower although mostly above 50.  
PMIs are above the 50.0 mark, with the exception of Mexico.  
Judging by the input prices survey, inflation pressure continues to build in  
The services PMI are, broadly speaking, lagging behind, considering that manufacturing as well as services. It is a global phenomenon. As shown by  
this sector is more exposed to the Covid-19-related restrictions, although the manufacturing output prices, companies are trying to reflect their cost  
the level has improved recently. The US index recorded a jump in April and pressure in their sales prices.  
the same happened in the UK since the low point in January. The Eurozone  
number has improved gradually and again so in April, although Germany  
William De Vijlder  
edged down. The numbers in India are surprisingly resilient considering  
the exponential increase in the number of new infections.  
The world composite PMI has been improving since the January low. The  
US and the UK stand out in terms of the levels that have been reached and  
the pace of improvement. Spain has recorded a jump in April. China has  
seen an improvement as well, more than correcting the decline of March.  
The employment component of the manufacturing PMI continues to  
improve and in most countries is well above 50. The data are particularly  
strong in the advanced economies, which bodes well for the employment  
numbers in the coming months.  
MANUFACTURING PMI  
Developed Markets  
Europe  
Emerging countries  
Middle East & Africa  
WD  
NA  
Asia-Oceania  
LATAM  
Eurasia  
Asia  
Jul-20 50.6 52.9 50.9 51.8 52.8 56.4 52.4 51.0 48.6 57.3 51.9 47.9 53.5 49.6 53.3 53.5 59.2 45.2 50.2 58.2 40.4 47.0 52.8 48.4 56.9 49.6 44.9 50.0 49.4 50.8 52.8 44.5 46.0 46.9 47.6  
Aug-20 51.8 55.1 53.1 51.7 51.0 51.4 49.8 52.2 49.4 52.3 53.1 52.3 49.9 51.0 55.2 49.3 50.8 47.2 50.1 64.7 41.3 49.1 50.6 51.1 54.3 49.4 40.1 48.8 55.8 49.4 53.1 44.0 52.0 50.8 45.7  
Sep-20 52.4 56.0 53.2 53.7 51.7 53.4 51.2 56.4 50.0 50.0 53.2 52.5 50.8 52.8 54.1 46.7 53.5 47.7 50.3 64.9 42.1 50.7 50.8 48.9 52.8 50.4 42.1 50.7 58.5 51.0 53.0 47.7 56.8 47.2 52.2  
Oct-20 53.1 55.5 53.4 54.8 54.0 62.5 51.3 58.2 48.7 50.3 53.8 50.4 52.5 52.9 53.7 56.3 52.2 48.7 50.5 66.7 43.6 51.9 50.8 46.9 53.9 51.4 43.3 51.0 60.9 49.5 53.6 49.8 58.9 47.8 51.8  
Nov-20 53.8 55.8 56.7 53.8 51.7 46.2 49.6 57.8 42.3 52.2 51.5 54.4 49.8 54.5 55.6 52.1 55.1 49.0 50.4 64.0 43.7 53.9 50.8 46.3 51.4 50.9 42.4 54.7 52.6 49.5 54.9 50.1 56.3 50.6 49.9  
Dec-20 53.8 57.9 57.1 55.2 53.5 41.5 51.1 58.3 46.9 57.2 52.8 58.2 51.0 57.3 57.5  
48.4 50.0 50.5 61.5 42.4 57.0 51.7 49.7 50.8 48.2 43.2 57.0 50.3 51.2 53.0 43.5 56.4 51.3 51.7  
Jan-21 53.6 54.4 59.2 54.8 54.2 41.8 51.6 57.1 50.0 51.8 55.1 58.8 49.3 59.4 54.1 55.3 57.4 49.8 50.7 56.5 43.0 57.0 51.9 50.9 54.4 48.7 41.0 57.1 50.9 51.2 51.5 47.8 57.7 52.2 51.3  
Feb-21 53.9 54.8 58.6 57.9 58.3 41.3 56.1 60.7 49.4 52.0 56.9 59.6 52.9 61.3 55.1 58.8 54.2 51.4 50.5 58.4 44.2 56.5 53.4 51.5 51.7 49.3 42.2 53.9 53.0 50.6 50.9 50.2 57.5 50.9 51.6  
Mar-21 55.0 58.5 59.1 62.5 63.4 67.6 59.3 66.6 51.8 57.1 59.8 64.7 56.9 66.3 58.9 59.9 63.6 52.7 50.8 52.8 45.6 58.0 54.3 51.1 52.6 48.0 46.4 53.3 57.4 52.6 50.6 50.5 55.4 53.2 53.6  
Apr-21 55.8 57.2 60.5 62.9 64.7 72.0 58.9 66.2 54.4 60.8 60.7 67.2 57.7 69.5 60.9 61.7  
53.6 50.9 52.3 48.4 58.9 53.7 50.4 50.4  
55.2 56.2 52.7 51.9 50.3 55.5 54.6 54.7  
SERVICES PMI  
Jul-20 50.7 50.0 54.7 57.3 55.6 51.9 51.6 51.9 56.5 44.0 45.4 42.5 58.5 44.9 54.1 44.5 34.2  
Aug-20 52.0 55.0 50.5 51.5 52.5 52.4 47.1 47.7 58.8 42.5 45.0 49.5 58.2 40.1 54.0 44.0 41.8  
Sep-20 52.0 54.6 48.0 47.5 50.6 45.8 48.8 42.4 56.1 36.2 46.9 50.4 53.7 42.1 54.8 47.7 49.8  
Oct-20 52.9 56.9 46.9 46.5 49.5 48.3 46.7 41.4 51.4 51.4 47.7 52.3 46.9 43.3 56.8 49.8 54.1  
Nov-20 52.2 58.4 41.7 38.8 46.0 45.4 39.4 39.5 47.6 52.9 47.8 50.9 48.2 42.4 57.8 50.1 53.7  
Dec-20 51.8 54.8 46.4 49.1 47.0 50.1 39.7 48.0 49.4  
47.7 51.1 48.0 43.2 56.3 43.5 52.3  
Jan-21 51.6 58.3 45.4 47.3 46.7 36.2 44.7 41.7 39.5 54.3 46.1 47.0 52.7 41.0 52.0 47.8 52.8  
Feb-21 52.8 59.8 45.7 45.6 45.7 41.2 48.8 43.1 49.5 55.8 46.3 47.1 52.2 42.2 51.5 50.2 55.3  
Mar-21 54.7 60.4 49.6 48.2 51.5 54.6 48.6 48.1 56.3 58.7 48.3 44.1 55.8 46.4 54.3 50.5 54.6  
Apr-21  
64.7 50.5 50.3 49.9  
47.3 54.6 60.1  
48.3 42.9  
50.3 54.0  
SOURCE: MARKIT, BNP PARIBAS  
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48  
50  
52  
54  
The bank  
for a changing  
world  
Eco week 21-18 // 10 May 2021  
economic-research.bnpparibas.com  
7
COMPOSITE PMI*  
Developed Markets  
Europe  
Emerging countries  
Middle East & Africa  
WD  
NA  
Asia-Oceania  
LATAM  
Eurasia  
Asia  
Jul-20 51.1  
50.3 54.9  
57.3 55.3  
55.9 52.5  
52.8  
57.0  
44.9  
47.3  
56.8  
54.5  
37.2  
Aug-20 52.5  
Sep-20 52.5  
Oct-20 53.4  
Nov-20 53.1  
Dec-20 52.7  
Jan-21 52.3  
Feb-21 53.2  
Mar-21 54.8  
Apr-21  
54.6 51.9  
54.3 50.4  
56.3 50.0  
58.6 45.3  
55.3 49.1  
58.7 47.8  
59.5 48.8  
59.7 53.2  
63.5 53.8  
51.6 54.4  
48.5 54.7  
47.5 55.0  
40.6 51.7  
49.5 52.0  
47.7 50.8  
47.0 51.1  
50.0 57.3  
51.6 55.8  
54.0 49.5  
46.9 50.4  
49.0 49.2  
47.7 42.7  
53.4 43.0  
40.3 47.2  
42.7 51.4  
54.5 51.9  
51.2  
48.4  
44.3  
44.1  
41.7  
48.7  
43.2  
45.1  
50.1  
55.2  
59.1  
56.5  
52.1  
49.0  
50.4  
41.2  
49.6  
56.4  
60.0  
45.2  
46.6  
48.0  
48.1  
48.5  
47.1  
48.2  
49.9  
50.2  
53.9  
53.6  
55.9  
53.8  
53.5  
48.9  
49.6  
45.1  
44.5  
57.3  
53.7  
47.1  
47.8  
48.3  
52.3  
52.6  
54.6  
55.1  
54.5  
55.7  
57.5  
55.8  
52.2  
51.7  
53.1  
46.0  
54.6  
58.0  
56.3  
54.9  
55.8  
57.3  
56.0  
55.4  
*
manufacturing & services  
MANUFACTURING PMI – EMPLOYMENT  
Developed Markets  
Europe  
Emerging countries  
WD  
NA  
Asia-Oceania LATAM  
Eurasia  
Middle East & Africa  
Asia  
Jul-20 47.3 50.9 49.6 42.9 48.5 48.3 48.8 37.2 48.4 50.8 45.0 42.9 47.4 46.1 43.9 48.2 47.3 47.8 52.3 38.7 42.7 47.8 44.7 54.8 46.1 47.8 33.7 47.5 49.5 44.3 43.5 45.4  
Aug-20 48.6 53.9 52.7 44.2 44.7 48.3 44.7 40.2 50.5 47.5 49.4 48.3 46.7 45.7 43.8 47.8 49.2 48.4 56.4 41.5 45.1 49.6 48.6 54.3 45.9 48.2 38.6 41.5 49.8 45.5 46.9 43.7  
Sep-20 49.5 54.3 52.5 47.1 49.1 44.6 46.5 44.2 50.9 49.1 51.9 47.7 50.1 47.1 46.5 51.8 51.5 49.8 56.5 44.6 48.1 51.1 45.6 55.2 48.3 49.0 44.8 47.7 50.1 45.4 46.1 48.5  
Oct-20 49.5 51.2 51.9 47.2 46.7 52.8 47.9 44.4 49.8 50.8 50.5 48.0 50.4 45.0 45.4 48.7 52.2 48.9 58.2 45.6 50.3 52.3 47.4 55.5 47.8 48.8 49.1 47.6 50.2 47.3 45.6 50.5  
Nov-20 50.2 52.5 51.7 48.7 47.4 45.8 48.7 47.2 45.0 51.2 51.5 51.7 48.3 47.9 47.2 53.1 51.2 49.1 56.8 46.3 50.7 52.8 45.4 54.4 48.5 50.1 47.2 48.8 51.3 47.4 47.0 48.4  
Dec-20 50.1 55.8 52.2 49.2 49.4 46.8 50.4 46.5 47.8 53.0 53.2 52.4 48.5 51.8 48.8 53.4 49.9 50.1 53.8 43.4 53.2 52.5 47.9 54.4 47.6 49.1 43.8 47.7 49.9 47.6 47.4 50.8  
Jan-21 50.3 51.3 54.7 49.4 51.2 49.6 49.1 47.8 50.9 50.8 53.2 52.1 46.9 52.2 50.6 52.9 56.2 48.7 51.2 44.2 52.1 52.1 50.2 56.1 48.7 49.3 48.6 50.2 49.6 48.1 47.5 49.9  
Feb-21 50.7 52.6 56.3 51.5 54.5 48.7 52.5 50.0 50.3 52.9 53.6 53.0 49.2 52.5 51.9 52.1 50.3 49.7 53.8 45.4 54.2 52.9 50.6 54.1 49.3 49.6 44.1 49.9 48.1 47.6 48.7 50.6  
Mar-21 51.6 53.7 54.5 54.8 57.7 61.9 56.2 54.1 51.0 55.7 55.3 55.1 53.2 54.4 55.7 53.3 53.5 50.0 48.5 47.1 54.7 53.2 50.1 54.2 48.9 49.9 44.4 49.5 49.5 47.2 49.8 52.1  
Apr-21 52.5 53.2 55.7 56.6 59.1 61.2 54.1 57.3 53.8 57.7 55.9 59.6 55.6 54.6 54.5 55.8  
50.5 51.8 48.9 55.5 53.4 50.2 52.7  
50.6 54.4 49.4 50.7 49.7 49.6 53.4  
MANUFACTURING PMI – NEW EXPORT ORDERS  
Developed Markets  
Europe  
Emerging countries  
Middle East & Africa  
WD  
NA  
Asia-Oceania  
LATAM  
Eurasia  
Asia  
Jul-20 47.2 47.8 49.8 51.8 49.6  
Aug-20 49.9 52.9 52.9 51.9 50.4  
Sep-20 51.7 51.3 51.2 55.5 52.7  
Oct-20 51.3 52.9 49.3 56.3 56.8  
Nov-20 51.8 50.2 50.5 53.0 53.7  
Dec-20 51.1 54.0 50.7 54.6 54.8  
Jan-21 50.2 49.9 54.0 54.7 54.0  
Feb-21 51.0 50.2 53.7 57.7 55.1  
Mar-21 53.5 54.4 53.5 63.0 61.4  
Apr-21 54.7 53.4 56.2 62.4 64.6  
45.9 54.8 45.2 58.7 48.9 46.4 53.9  
48.3 55.7 46.9 52.5 46.5 55.2 49.8  
51.5 61.2 49.3 47.7 51.3 54.0 51.4  
50.1 61.3 46.2 49.0 55.8 53.2 51.2  
45.4 58.4 35.9 50.1 49.6 53.9 49.2  
49.7 57.3 38.7 51.8 53.2 60.1 52.6  
49.6 58.8 42.3 47.7 54.5 58.1 49.8  
54.0 62.2 46.5 48.1 57.3 58.0 52.5  
56.4 69.1 46.8 54.6 61.3 66.5 55.0  
55.6 67.5 49.3 56.6 60.2 65.9 56.5  
47.7 41.4  
51.5 52.2  
53.4 46.5  
54.1 52.7  
55.5 50.0  
55.6  
48.4 61.4  
50.4 54.1  
51.6 51.3  
53.7 58.8  
40.2 50.5 46.2 41.6 43.6 50.5 48.5 54.4 51.7 48.6 45.3 45.7 40.7 47.7 48.3 36.2 43.3 38.4 41.7  
47.3 50.2 46.2 44.4 47.1 50.3 48.8 53.4 53.0 53.4 33.6 45.4 38.7 48.5 50.7 38.0 47.8 40.1 42.0  
47.3 50.4 53.9 42.0 50.2 51.0 43.8 50.9 55.3 51.1 40.8 52.0 45.8 50.9 54.4 44.8 53.8 36.4 52.9  
50.6 50.8 54.2 42.1 52.1 53.5 50.4 51.7 54.0 48.2 42.2 48.4 49.3 50.6 51.0 47.8 55.2 37.6 50.0  
49.2 50.9 55.3 40.4 55.1 49.7 52.4 49.5 52.4 56.1 41.4 52.0 47.1 49.5 53.3 47.6 54.8 47.5 46.8  
48.6 50.7 52.8 38.4 55.1 52.6 50.4 47.7 49.7 44.1 44.6 51.5 47.6 52.9 51.8 40.2 51.8 41.1 52.8  
48.2 50.9 49.9 41.9 53.3 53.7 41.3 53.4 52.4 42.6 40.5 53.5 45.9 55.2 47.4 43.9 53.9 44.2 49.9  
51.5 50.7 50.6 41.6 52.0 54.3 46.6 50.7 56.3 43.2 47.3 51.6 48.4 49.8 47.6 44.2 52.0 43.5 50.5  
50.8 51.0 50.1 42.6 56.0 56.7 49.0 51.4 48.7 42.9 48.7 46.2 46.7 50.7 51.4 46.1 53.8 46.5 55.1  
53.8 51.4 50.6 44.0 55.1 55.8 49.5 51.2  
50.7 52.5 51.7 51.8 46.3 54.9 53.0 54.7  
SOURCE: MARKIT, BNP PARIBAS  
4
6
48  
50  
52  
54  
The bank  
for a changing  
world  
Eco week 21-18 // 10 May 2021  
economic-research.bnpparibas.com  
8
PMI - MANUFACTURING INPUT PRICES  
Developed Markets  
Europe  
Emerging countries  
Middle East & Africa  
WD  
NA  
Asia-Oceania  
LATAM  
Eurasia  
Asia  
Jul-20 53.1 54.1 52.8 47.5 43.5 41.7 49.5 44.0 50.6 55.7 52.7 46.1 48.4  
55.0 63.5  
50.2 49.7 75.8 49.9 53.8 54.0 61.4 65.1 53.4  
50.2  
50.8 54.8 47.9 48.6 56.7 51.9  
Aug-20 54.6 58.6 56.4 50.1 47.6 51.2 51.3 47.7 52.3 55.5 52.5 52.0 52.1  
Sep-20 54.7 60.3 56.2 50.6 49.2 45.0 52.7 46.9 53.6 56.4 54.3 53.5 52.8  
Oct-20 55.3 62.4 57.1 52.9 50.7 61.2 54.9 50.9 54.0 54.4 55.2 56.1 52.4  
Nov-20 57.6 60.7 61.6 55.9 53.0 62.8 55.5 54.1 58.8 57.4 59.2 59.8 56.5  
Dec-20 61.0 65.2 65.3 61.4 57.5 62.5 59.0 62.0 64.8 56.8 62.2 65.5 62.8  
Jan-21 62.5 62.7 65.1 68.3 66.0 68.0 64.6 71.3 67.8 60.9 69.7 69.9 63.5  
Feb-21 65.1 65.0 73.2 73.9 76.5 73.4 69.3 78.3 73.8 64.7 70.8 78.1 69.0  
Mar-21 68.4 69.5 74.8 79.7 82.3 83.0 75.8 83.7 78.4 75.2 75.9 83.8 74.8  
Apr-21 69.6 71.7 77.2 82.2 85.7 86.3 79.0 84.3 81.8 76.3 81.6 86.3 78.3  
56.4 59.3  
56.5 57.9  
58.7 66.6  
61.3 64.6  
68.0  
51.3 50.1 86.7 52.3 52.9 58.0 64.8 72.2 52.8  
51.2 50.2 87.2 53.1 50.4 57.6 63.3 73.6 52.2  
52.0 50.4 89.5 53.5 56.3 60.6 72.5 75.6 53.9  
51.3 50.7 90.8 51.2 58.4 62.8 77.1 75.1 52.6  
52.1 50.6 82.7 50.8 65.8 69.5 78.5 78.2 53.0  
53.9 50.5 82.3 53.4 67.5 69.7 72.9 70.2 52.5  
55.6 50.6 83.5 56.0 73.0 75.8 76.8 66.5 52.4  
59.9 50.8 87.3 57.0 81.9 81.2 72.6 74.2 51.7  
60.4 50.9 86.8 60.3 85.8 84.5 76.3 70.3  
56.8  
51.1  
52.2  
53.8  
50.1  
50.4  
50.7  
51.5  
52.7  
50.4 53.2 49.8 54.2 57.1 50.8  
50.8 54.1 50.0 51.8 52.9 54.6  
50.3 52.1 50.4 52.4 53.4 55.7  
49.9 54.7 50.8 54.2 55.7 57.6  
50.1 59.2 52.3 56.2 58.5 61.8  
49.4 59.0 51.0 56.8 61.3 62.1  
50.4 58.1 51.6 58.2 62.1 57.9  
52.9 61.5 51.8 57.3 63.4 64.6  
51.1 62.0 53.8 59.4 62.9 64.3  
76.8 64.4  
80.1 74.1  
80.6 71.3  
80.4 74.1  
PMI - SERVICES INPUT PRICES  
Jul-20 54.0 57.4 52.5 51.7 51.8 53.0 54.3 52.9 55.1 52.5 50.1 55.2 55.3 51.2 50.3  
Aug-20 54.2 57.1 53.4 54.3 54.1 55.2 51.7 51.9 53.9 55.5 49.3 55.5 58.6 52.4 50.7  
Sep-20 53.7 55.7 53.0 51.3 54.9 57.3 51.2 53.4 52.5 59.5 49.5 62.2 58.6 50.3 52.8  
Oct-20 53.9 54.2 53.1 50.7 54.3 56.9 54.0 52.9 54.0 59.3 49.3 63.0 58.0  
Nov-20 57.6 63.7 51.5 49.8 52.3 57.6 50.9 52.6 52.8 51.8 49.5 64.1 64.5 57.5 54.7  
Dec-20 58.3 64.7 53.1 51.9 55.8 54.8 50.9 51.8 57.1 51.4 66.5 60.4 55.3 55.2  
54.4  
Jan-21 58.9 66.9 53.2 52.2 53.7 54.2 52.5 54.9 54.5 62.6 50.6 65.2 57.9 56.4 54.9  
Feb-21 60.4 70.1 53.2 49.7 53.2 56.5 55.6 56.2 58.6 64.4 50.2 63.8 63.8 55.6 57.1  
Mar-21 62.5 72.7 55.6 52.4 59.0 60.6 54.4 54.6 64.0 64.7 54.3 69.6 65.1 53.7 56.8  
Apr-21  
73.3 57.6 55.6 60.5  
52.6 60.2 64.1  
54.1 69.3  
57.8  
PMI - MANUFACTURING OUTPUT PRICES  
Developed Markets  
Europe  
Emerging countries  
Middle East & Africa  
WD  
NA  
Asia-Oceania  
LATAM  
Eurasia  
Asia  
Jul-20 51.0 50.0 50.9 49.0 46.5 64.9 50.0 49.7 48.5 52.9 47.2 48.1 46.5  
51.6  
50.0  
63.5 46.7 49.3 48.3 51.9 57.5 48.8 56.6 48.5  
47.1  
46.8 48.8 51.1 47.6  
Aug-20 51.5 53.1 52.5 49.4 47.7 61.1 51.5 49.4 49.7 49.3 49.5 50.9 45.7  
Sep-20 51.5 54.6 53.7 49.6 49.7 65.4 51.1 49.1 46.9 49.6 50.4 51.4 48.0  
Oct-20 52.0 54.1 51.9 50.5 50.7 75.1 51.5 51.1 47.9 50.3 49.8 50.5 48.1  
Nov-20 53.2 54.7 56.2 51.6 50.3 47.3 51.7 51.5 48.7 53.4 51.7 54.7 49.9  
Dec-20 54.5 59.0 58.6 52.6 50.8 42.3 51.8 52.2 49.7 51.9 52.0 60.1 53.5  
Jan-21 55.0 55.8 60.4 52.2 51.4 35.0 52.1 51.3 50.3 54.5 52.4 55.9 53.5  
Feb-21 55.7 56.3 60.6 56.5 55.7 29.8 52.8 57.4 55.1 56.9 58.1 59.2 54.5  
Mar-21 59.3 61.6 69.1 60.9 60.8 57.9 58.3 62.8 61.2 58.1 59.9 63.3 58.5  
Apr-21 59.7 63.3 68.0 64.3 62.4 72.1 63.8 64.4 64.6 62.8 65.5 66.7 62.6  
52.3  
52.1  
53.2  
53.7  
55.2  
57.9  
61.2  
63.7  
65.3  
49.6  
49.4  
50.4  
49.3  
50.1  
51.1  
51.0  
51.9  
51.4  
69.7 47.6 48.3 48.7 52.0 61.9 50.4 50.8 57.5  
76.6 46.7 48.1 50.5 53.1 63.9 51.4 51.0 51.5  
78.8 47.1 49.4 51.6 57.1 66.1 52.2 50.8 49.8  
79.9 46.1 50.0 51.1 58.3 64.3 51.7 51.6 52.3  
69.5 46.1 51.8 51.5 60.6 63.0 50.8 51.3 50.5  
68.5 45.9 51.5 57.2 59.3 60.6 50.5 52.6 50.3  
73.0 45.9 52.1 61.9 66.3 54.2 50.3 52.1 50.9  
73.3 46.7 58.7 66.0 65.3 62.1 50.4 58.3 49.0  
46.5  
46.3  
48.5  
48.3  
49.2  
49.4  
49.2  
49.5  
51.1  
48.3 49.6 51.3 47.0  
48.8 50.3 50.3 50.7  
47.6 50.9 49.4 50.5  
49.5 51.4 50.3 51.5  
47.4 51.1 52.4 52.4  
47.1 53.1 51.7 51.8  
47.7 52.2 53.7 51.6  
49.7 52.0 53.1 54.6  
49.3 54.2 52.9 56.9  
77.2 48.6 61.6 69.0 67.1 61.8  
50.7  
SOURCE: MARKIT, BNP PARIBAS  
4
6
48  
50  
52  
54  
The bank  
for a changing  
world  
QUI SOMMES-NOUS ? Trois équipes d'économistes (économies OCDE, économies émergentes et risque pays, économie bancaire) forment la Direction des Etudes Economiques de BNP Paribas.
Ce site présente leurs analyses.
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