HEADS UP: The world's biggest economies will be publishing their May manufacturing PMI reports. And this is our scorecard.
Sunday's action will kick off at 8 p.m. ET when we get South Korea's PMI report.
However, most eyes will be on China's unofficial HSBC PMI report, which will come out at 9:45 p.m..
On Friday, we learned that the official reading unexpectedly climbed to 50.8 in May. Economists were expecting a break-even reading of 50.0.
Strength in Asia was confirmed earlier by South Korea's exports, which unexpectedly jumped by 3.2% in May, beating expectations for a decline.
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 —36.7
- 8 p.m. South Korea: HSBC Manufacturing PMI — 52.6
- 9:45 p.m. China: HSBC Manufacturing PMI — 50.4
- 10 p.m. Taiwan: HSBC Manufacturing PMI —50.7
- 10 p.m. Vietnam: HSBC Manufacturing PMI — 51.0
- 11 p.m. Indonesia: HSBC Manufacturing PMI — 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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