Economic calendar in Asia Wednesday, September 4 – Australian Q2 GDP and another China PMI

Australian Q2 GDP is expected to eke out a small gain:

• +0.3% q/q expected
• +1.0% annual

The ‘partials’ this week have been lacklustre:

• inventories negative, to detract 0.3%
• business profits and capex weak (falling)
• net exports +0.2% contribution but well under estimates

Saved by government spending:

• public demand grew
• public investment grew

Also coming is the final Chinese PMI for August. The official figures were out over the weekend, did I say lacklustre already?

• China August Manufacturing PMI 49.1 (expected 49.5), Services 50.3 (expected 50.0)
• ICYMI – China’s official August manufacturing PMI fell to its lowest since February

The private, Caixin, manufacturing PMI turned in a decent performance though:

• China Caixin Manufacturing PMI August 2024: 50.4 (expected 50.0, prior 49.8)
• Recapping the two China Manufacturing PMIs for August – mixed signals

Today it’s the Caixin non-manufacturing PMI and composite:

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.