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The following is an extract from IHS Markit's latest Week
Ahead Economic Preview. For the full report (including Special
Reports) please click on the link at the bottom of the
article.
Worldwide manufacturing PMI surveys to reveal production
momentum at tail end of 2019
German inflation and labour market data
Hong Kong SAR economic updates
The coming week brings in the New Year, so we dedicate our
special report this week to a summary of the main economic
projections for the year ahead from our Chief Economist Nariman
Behravesh.
Global recession risks have fallen in recent months with PMI
surveys in particular sending encouraging signs of stabilisation.
The
headline global PMI hit a four-month high in November, with
both manufacturing and services components lifting higher. The
former, which led the 2018-19 slowdown, has now risen continually
since mid-year. We will therefore get an updated insight into
whether world economic growth momentum has continued to build
heading into 2020 via the manufacturing PMI surveys for December
during the coming week. The UK also sees the construction PMI
released.
Other key data to watch for the US include pending home sales,
inventories and the trade balance, while Europe sees German retail
sales, labour market and inflation data, with the latter also
updated for Spain, France and Italy. UK economy watches will also
eye mortgage approvals numbers.
In Asia, insights into the resilience of the Hong Kong SAR in
the face of trade wars and domestic unrest will be released via
trade and retail sales data, while South Korea publishes industrial
production, retail sales and trade numbers. Inflation data are
meanwhile released for both Thailand and Indonesia.
Purchasing Managers' Index™ (PMI™) data are compiled by IHS Markit for more than 40 economies worldwide. The monthly data are derived from surveys of senior executives at private sector companies, and are available only via subscription. The PMI dataset features a headline number, which indicates the overall health of an economy, and sub-indices, which provide insights into other key economic drivers such as GDP, inflation, exports, capacity utilization, employment and inventories. The PMI data are used by financial and corporate professionals to better understand where economies and markets are headed, and to uncover opportunities.
