Economic calendar in Asia 02 January 2024 – China Manufacturing PMI (December)

<p>Today brings the privately-surveyed manufacturing PMI from China for December, Caixin/S&amp;P Global.</p><p>Over the weekend we had the official PMIs for December, manufacturing was a disappointment:</p><ul><li><a href="https://www.forexlive.com/news/china-dec-manufacturing-pmi-490-vs-495-expected-services-504-505-expected-20231231/" target="_blank" rel="follow" data-article-link="true">China Dec Manufacturing PMI 49.0 (vs. 49.5 expected) &amp; Services 50.4 (50.5 expected)</a></li></ul><p>The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers small and medium-sized enterprises. As a result, the Caixin PMI is considered to be a more reliable indicator of the performance of China's private sector. There is more on the difference between the two PMIs at that link above. </p><p>There have been 'green shoots' from China's economy, for example recently:</p><ul><li><a href="https://www.forexlive.com/news/chinas-november-industrial-profits-rebound-with-295-yy-growth-20231227/" target="_blank" data-article-link="true">China's November Industrial Profits rebound with 29.5% y/y Growth</a></li></ul><p>The manufacturing PMI released over the weekend was not a green shoot. Let's see how today's looks.</p><ul><li>This snapshot from the ForexLive economic data calendar, <a href="https://www.forexlive.com/EconomicCalendar" target="_blank" title="Click here!">access it here</a>.</li><li>The times in the left-most column are GMT.</li><li>The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.</li><li>I’ve noted data for New Zealand and Australia with text as the similarity of the little flags can sometimes be confusing.
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This article was written by Eamonn Sheridan at www.forexlive.com.