If there is one thing we know about President Trump, it is that he likes "winning," and that means someone else is "losing." If the following chart is anything to go by (and anything but 'transitory') then President Trump should be smiling...

While US manufacturing is rebounding back to cycle highs, Mexico's manufacturing economy has collapsed into contraction to record lows as the natural disaster that hit Mexico led to a deterioration in the health of the manufacturing sector in October, with companies signalling lower output and new orders.

Commenting on the IHS Mexico Manufacturing PMI survey data, Aashna Dodhia, Economist at IHS Markit and author of the report, said:

“In light of the recent natural disaster faced by Mexico, the manufacturing sector fell into contraction territory for the first time in over four years. The disruptions from the earthquakes were extensive, with output, new orders and employment all down since September. “Meanwhile, currency volatility resulted in the strongest rate of input cost inflation since June, while factories sought to protect margins by raising their charges. Looking ahead, economic uncertainty remained a key area of concern, with business sentiment the weakest since March.”

Odd that in the US, natural disasters like floods, hurricanes, and wildfires appear to be just shrugged of by the survey data... but in Mexico - there is an actual 'slowdown' when the world implodes. We wonder which is more 'real'.