We are in the middle of the busiest 48 hours in the history of economics. And ahead of tomorrow’s big US employment situation report, we’re getting tons of leading economic data from all over the world.
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 purchasing managers index (PMI). Each reading is based on surveys of hundreds of companies in each country. From Markit:
PMIs are based on monthly surveys of carefully selected companies. These provide an advance indication of what is really happening in the private sector economy by tracking variables such as output, new orders, stock levels, employment and prices across the manufacturing, construction, retail and service sectors.
The PMI surveys are based on fact, not opinion, and are among the first indicators of economic conditions published each month. The data are collected using identical methods in all countries so that international comparisons may be made.
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.
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- Netherlands: NEVI Netherlands Manufacturing PMI — 47.6, down from 49.0 in April
- South Korea: HSBC South Korea Manufacturing PMI — 51.0, down from 51.9 in April
- China: Official PMI — 50.4, down from 53.3 in April
- Taiwan: HSBC Taiwan Manufacturing PMI — 50.5, down from 51.2 in April
- Vietnam: HSBC Vietnam PMI — 48.3, down from 49.5 in April
- China: HSBC China Manufacturing PMI — 48.4, down from 49.3 in April
- Indonesia: HSBC Indonesia Manufacturing PMI — 48.1, down from 50.5 in April
- India: HSBC India Manufacturing PMI — 54.8, down from 54.9 in April
- Russia: HSBC Russia Manufacturing PMI — 53.2, up from 52.9 in April
- Ireland: NCB Republic of Ireland Manufacturing PMI — 51.2, up from 50.1 in April
- Poland: HSBC Poland Manufacturing PMI — 48.9, down from 49.2 in April
- Turkey: HSBC Turkey Manufacturing PMI — 50.2, down from 52.3 in April
- Spain: Markit Spain Manufacturing PMI — 42.0, down from 43.5 in April
- Czech Republic: HSBC Czech Republic Manufacturing PMI — 47.6, down from 49.7 in April
- Italy: Markit / ADACI Italy Manufacturing PMI — 44.8, up from 43.5 in April
- France: Markit France Manufacturing PMI — 44.7, down from 46.9 in April
- Germany: Markit / BME Germany Manufacturing PMI — 45.2, down from 46.2 in April
- Greece: Markit Greece Manufacturing PMI — 43.1, up from 40.7 in April
- UK: Markit / CIPS UK Construction PMI — 45.9, down from 50.2 in April
- Australia: AiG and PwC PMI — 42.4, down from 43.9 in April
- Brazil: HSBC Brazil Manufacturing PMI — 49.3, same as in April
- US: Markit US Manufacturing PMI — 54.0, down from 56.0 in April
- Canada: RBC Canada Manufacturing PMI — 54.7, up from 53.3 in April
- Mexico: HSBC Mexico Manufacturing PMI — 10:30 AM EST
- GLOBAL: JPMorgan Global Manufacturing PMI — 11:00 AM EST