Manufacturing Activity Is Heating Up Across Asia, But Contracting Sharply In Europe
So far, the reports reflect acceleration in Asia's manufacturing sector.
China's official manufacturing PMI report climbed to 50.9 in March, down from 50.1. Economists where expecting a reading of 52.0.
Last month, some weak economic numbers had some China watchers wondering if the world's second largest economy may be heading for a hard landing. An increasing PMI should quell some of those concerns.
Europe, meanwhile, continues to be a mess, and all signs suggest its economies deteriorated in March.
In the U.S., where economic numbers have been so strong, manufacturing appears to have decelerated a bit. Still, the numbers point toward growth.
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, Chairman of Goldman Sachs Asset Management, 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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March 28 (All Times EST)
- 7:15 p.m. Japan: Markit/JMMA Manufacturing PMI -- 50.4, up from 48.5 in February
March 31, April 1
- 8:00 p.m. South Korea: HSBC Manufacturing PMI — 52.0, up from 50.9
- 9:00 p.m. China: NBS Official PMI—50.6, up from 50.1
- 9:45 p.m. China: HSBC Manufacturing PMI — 51.6, up from 50.4
- 10:00 p.m. Taiwan: HSBC Manufacturing PMI —51.2, up from 50.2
- 10:00 p.m. Vietnam: HSBC Manufacturing PMI — 50.8, up from 48.3
- 11:00 p.m. Indonesia: HSBC Manufacturing PMI — 51.3, up from 50.5
- 1:00 a.m. India: HSBC Manufacturing PMI — 52.0, down from 54.2
- 1:00 a.m. Russia: HSBC Manufacturing PMI — 50.8, down from 52.0
- 3:00 a.m. Turkey: HSBC Manufacturing PMI — 52.3, down from 53.5
- 4:00 a.m. Greece: Markit Manufacturing PMI — 42.1, down from 43.0
- 9:00 a.m. Brazil: HSBC Manufacturing PMI — 51.8, down from 52.5
- 9:00 a.m. US: Markit Manufacturing PMI — 54.6, down from 54.9
- 10:00 a.m. US: ISM Manufacturing — 51.3, down from 54.2
- 10:30 a.m. Mexico: HSBC Manufacturing PMI — 52.2, down from 53.4
April 1, 2
- 8:00 p.m. Netherlands: NEVI Manufacturing PMI — 48.0, down from 49.0
- 2:00 a.m. Ireland: NCB Manufacturing PMI — 48.6, down from 51.5
- 3:00 a.m. Poland: HSBC Manufacturing PMI — 48.0, down from 48.9
- 3:15 a.m. Spain: Markit Manufacturing PMI — 44.2, down from 46.8
- 3:45 a.m. Italy: Markit/ADACI Manufacturing PMI — 44.5, down from 45.8
- 3:50 a.m. France: Markit Manufacturing PMI — 43.8, down from 44.0
- 3:55 a.m. Germany: Markit/BME Manufacturing PMI — 49.0, down from 50.3
- 4:00 a.m. Eurozone: Markit Manufacturing PMI — 46.8, down from 47.9
- 4:30 a.m. UK: Markit / CIPS Manufacturing PMI— 48.3, up from 47.9
- 9:30 a.m. Canada: RBC Manufacturing PMI — 49.3, down from 51.7
- 11:00 a.m. Global: JPMorgan Manufacturing PMI — 51.2, up from 50.9