Australian economic growth data for the January – March quarter is due today, and its expected to show a very slow economy indeed. The +0.2% q/q forecast may well be optimistic given the mixed signals we got from the ‘partials’ so far:
- soft Australian data
- BoA expecting 0.1% q/q & 1.1% y/y
From China today it’s the final of the PMI readings for May. The official PMIs from China’s National Bureau of Statistics (NBS) showed manufacturing back in contraction, while services remained expanding:
China May 2024 Official Manufacturing PMI 49.5 (expected 50.5)
The Caixin manufacturing PMI was better though:
- showed manufacturing activity in May grew at the fastest pace in about two years
This snapshot from the ForexLive economic data calendar, access it here.
The times in the left-most column are GMT.
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.
I’ve noted data for New Zealand and Australia with text as the similarity of the little flags can sometimes be confusing.
This article was written by Eamonn Sheridan at www.forexlive.com.
Source link
