The beginning of December marks a significant point on the economic calendar, particularly regarding manufacturing PMI reports. These reports, which reflect the health of the manufacturing sector, are set to be released across several countries.
Key Manufacturing PMI Releases for December
The first Monday of the month features various important PMI reports from major economies. Notably, these final readings are expected to have limited impact on market reactions due to ongoing risk aversion in financial markets. This sentiment comes on the heels of a long holiday weekend for Wall Street, which has contributed to a decline in both equities and cryptocurrencies.
Scheduled Data Releases
The following PMI reports are expected today:
- 02:45 GMT: China – November PMI report
- 05:00 GMT: Germany – Speech by Bundesbank President Nagel
- 09:00 GMT: Poland – November PMI report
- 09:15 GMT: Spain – November PMI report
- 09:30 GMT: Switzerland – PMI report
- 09:50 GMT: France – November PMI report
- 09:55 GMT: Germany – November PMI report
- 10:00 GMT: Poland – GDP data
- 10:00 GMT: Eurozone – November PMI report
- 15:45 GMT: United States – November PMI report
- 16:00 GMT: United States – September inflation data
- 16:00 GMT: United States – November ISM data
- 18:00 GMT: United States – GDP data
Impact of Economic Sentiment
The recent decline in Germany’s Ifo business sentiment index may exert additional pressure on the DAX and euro. Market participants are likely to scrutinize today’s PMI figures closely, particularly as they come amid increasing caution in economic forecasts. Investors will also focus on ISM manufacturing indicators, which include employment and new orders benchmarks, crucial for assessing U.S. manufacturing vitality.
Forecasts and Previous Data
For the United States, analysts predict the following for the ISM manufacturing index:
- Forecast: 49.0
- Previous: 48.7
- ISM manufacturing employment index: Previous 46.0
- ISM manufacturing new orders index: Previous 49.4
Today’s reports are anticipated to set the tone for the weeks ahead, giving insights into global manufacturing health as December kicks off with final manufacturing PMIs on the economic calendar.
