Economic calendar in Asia – Monday, 3 June 2024 – PMI from China

As previously noted, it’s a market holiday in New Zealand today.

The focus for the data agenda is the second of China’s manufacturing PMIs for May.

Today is the privately-surveyed Caixin PMI.

On Friday we had the official May PMIS:

• China May 2024 Official Manufacturing PMI 49.5 (expected 50.5)

Manufacturing slipped back into contraction, and to its lowest for 3 months.

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China has two primary Purchasing Managers’ Index (PMI) surveys – the official PMI released by the National Bureau of Statistics (NBS) and the Caixin China PMI published by the media company Caixin and research firm Markit / S&P Global.

• The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers small and medium-sized enterprises. As a result, the Caixin PMI is considered to be a more reliable indicator of the performance of China’s private sector.
• Another difference between the two surveys is their methodology. The Caixin PMI survey uses a broader sample of companies than the official survey.
• Despite these differences, the two surveys often provide similar readings on China’s manufacturing sector.
• The Caixin services PMI will follow on on Wednesday

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.

This article was written by Eamonn Sheridan at www.forexlive.com.