HEADS UP: The world’s biggest economies are releasing their March manufacturing PMI reports today through Tuesday. And this is our scorecard.
The party will start at 9:00 PM ET when China publishes its official manufacturing PMI report. Economists expect it to jump to 52.0 from 50.1 in February.
Some weak economic numbers have some China watchers wondering if the world’s second largest economy may be heading for a hard landing. An increase should quell some of those concerns.
Meanwhile, Europe continues to be a mess, and all signs suggest its economies deteriorated in March.
On the other hand, the U.S. economic numbers have been so strong, Deutsche Bank’s Joe LaVorgna thinks GDP may have grown by as much as 4 per cent in Q1. On Thursday, U.S. stocks closed at an all-time high.
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.
- 7:15 PM Japan: Markit/JMMA Manufacturing PMI — 50.4, up from 48.5 in February
March 31, April 1
- 9:00 PM China: NBS Official PMI
- 9:00 PM South Korea: HSBC Manufacturing PMI
- 10:45 PM China: HSBC Manufacturing PMI
- 11:00 PM Taiwan: HSBC Manufacturing PMI
- 11:00 PM Vietnam: HSBC Manufacturing PMI
- 12:00 AM Indonesia: HSBC Manufacturing PMI
- 2:00 AM India: HSBC Manufacturing PMI
- 2:00 AM Russia: HSBC Manufacturing PMI
- 3:00 AM Turkey: HSBC Manufacturing PMI
- 4:00 AM Greece: Markit Manufacturing PMI
- 9:00 AM Brazil: HSBC Manufacturing PMI
- 9:00 AM US: Markit Manufacturing PMI
- 10:00 AM US: ISM Manufacturing
- 10:30 AM Mexico: HSBC Manufacturing PMI
April 1, 2
- 9:00 PM Netherlands: NEVI Manufacturing PMI
- 3:00 AM Ireland: NCB Manufacturing PMI
- 4:00 AM Poland: HSBC Manufacturing PMI
- 4:15 AM Spain: Markit Manufacturing PMI
- 4:45 AM Italy: Markit/ADACI Manufacturing PMI
- 4:50 AM France: Markit Manufacturing PMI
- 4:55 AM Germany: Markit/BME Manufacturing PMI
- 5:00 AM Eurozone Manufacturing PMI
- 5:30 AM UK: Markit / CIPS Manufacturing PMI
- 10:30 AM Canada: RBC Manufacturing PMI
- 12:00 PM Global: JPMorgan Manufacturing PMI