HEADS UP: The world's biggest economies are publishing their May manufacturing PMI reports. This is our scorecard.
On Friday, we learned that China's official manufacturing PMI unexpectedly climbed to 50.8 in May.
However, China's unofficial HSBC PMI fell to 49.6 from 50.4 a month ago.
In fact, PMI numbers from South Korea, Taiwan, and Vietnam all deteriorated, raising some skepticism about the official number.
PMI
At the beginning of each month, Markit, HSBC, RBC, JP Morgan, and several other major data gathering institutions publish the latest local readings of the manufacturing purchasing managers index (PMI) for countries around the world.
PMI is one of the best leading indicators of the economy.
Each reading is based on surveys of hundreds of companies. Read more about it at Markit.
These are not the most closely followed data points. However, the power of the insights is unparalleled. Jim O'Neill, the former Goldman Sachs economist, believes the PMI numbers are among the most reliable economic indicators in the world. BlackRock's Russ Koesterich thinks it's one of the most underrated indicators.
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May 31 (All Times ET)
- 7:15 p.m. Japan: Markit/JMMA Manufacturing PMI — 51.5, up from 51.0 in April
- 9 p.m. China: NBS Official PMI—50.8, up from 50.6
June 2, 3
- 7:30 p.m. Australia: AiG Manufacturing PMI —43.8, up from 36.7
- 8 p.m. South Korea: HSBC Manufacturing PMI — 51.1, down from 52.6
- 9:45 p.m. China: HSBC Manufacturing PMI — 49.6, down from 50.4
- 10 p.m. Taiwan: HSBC Manufacturing PMI —47.1, down from 50.7
- 10 p.m. Vietnam: HSBC Manufacturing PMI — 48.8, down from 51.0
- 11 p.m. Indonesia: HSBC Manufacturing PMI — 51.6, down from 51.7
- 1 a.m. India: HSBC Manufacturing PMI — 51.0
- 1 a.m. Russia: HSBC Manufacturing PMI — 50.6
- 2 a.m. Ireland: NCB Manufacturing PMI — 48.0
- 3 a.m. Turkey: HSBC Manufacturing PMI — 51.3
- 3 a.m. Poland: HSBC Manufacturing PMI — 46.9
- 3 a.m. Netherlands: NEVI Manufacturing PMI — 48.2
- 3:15 a.m. Spain: Markit Manufacturing PMI — 44.7
- 3:45 a.m. Italy: Markit/ADACI Manufacturing PMI — 45.5
- 3:50 a.m. France: Markit Manufacturing PMI — 44.4
- 3:55 a.m. Germany: Markit/BME Manufacturing PMI — 48.1
- 4 a.m. Greece: Markit Manufacturing PMI — 45.0
- 4 a.m. Eurozone: Markit Manufacturing PMI — 46.7
- 4:30 a.m. U.K.: Markit / CIPS Manufacturing PMI— 49.8
- 9 a.m. U.S.: Markit Manufacturing PMI — 52.1
- 9 a.m. Brazil: HSBC Manufacturing PMI — 50.8
- 9:30 a.m. Canada: RBC Manufacturing PMI — 50.1
- 10 a.m. U.S.: ISM Manufacturing — 50.7
- 10:30 a.m. Mexico: HSBC Manufacturing PMI — 51.7
- 11 a.m. Global: JPMorgan Manufacturing PMI — 50.5
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