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.
