The world's biggest economies have published their May manufacturing PMI reports. This is our scorecard.
In aggregate, global manufacturing PMI climbed to 50.6 in May from 50.4 in April.
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.
Meanwhile every major region in Europe reported significant improvement.
See the chart on the right from Markit summarizing all of the reports we've seen.
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 — 50.1, down from 51.0
- 1 a.m. Russia: HSBC Manufacturing PMI — 50.4, down from 50.6
- 3 a.m. Turkey: HSBC Manufacturing PMI — 51.1, down from 51.3.
- 3 a.m. Poland: HSBC Manufacturing PMI — 48.0, up from 46.9
- 3 a.m. Netherlands: NEVI Manufacturing PMI — 48.7, up from 48.2.
- 3:15 a.m. Spain: Markit Manufacturing PMI — 48.1, up from 44.7
- 3:45 a.m. Italy: Markit/ADACI Manufacturing PMI — 47.3, up from 45.5.
- 3:50 a.m. France: Markit Manufacturing PMI — 46.4, up from 44.4.
- 3:55 a.m. Germany: Markit/BME Manufacturing PMI — 49.4, up from 48.1.
- 4 a.m. Greece: Markit Manufacturing PMI — 45.3, up from 45.0.
- 4 a.m. Eurozone: Markit Manufacturing PMI — 48.3, up from 46.7.
- 4:30 a.m. U.K.: Markit / CIPS Manufacturing PMI— 51.3, up from 50.2
- 9 a.m. U.S.: Markit Manufacturing PMI — 52.3, up from 52.1
- 9 a.m. Brazil: HSBC Manufacturing PMI — 50.4, down from 50.8
- 9:30 a.m. Canada: RBC Manufacturing PMI — 53.2, up from 50.1
- 10 a.m. U.S.: ISM Manufacturing — 49.0, down from 50.7
- 10:30 a.m. Mexico: HSBC Manufacturing PMI — 51.7, flat from 51.7
- 11 a.m. Global: JPMorgan Manufacturing PMI — 50.6, up from 50.4
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