Economic data is back on the radar in Asia at the start of December after plunging oil prices dominated headlines for much of last week. China’s monthly purchasing manager’s indices (PMI) and Australia’s third-quarter gross domestic product (GDP) will take the spotlight.
The week begins with separate readings of China’s November factory activity from the government and HSBC. The closely-watched reports come on the heels of the central bank’s surprise interest rate cut late last month, which indicated that policymakers are worried about the country’s economic slowdown despite publicly quashing stimulus hopes in previous months.
Economists polled by Reuters expect the official manufacturing Purchasing Managers’ Index at 50.6, a touch lower than 50.8 in October. Meanwhile, HSBC’s preliminary reading for November showed PMI falling to a six-month low of 50 from October’s final reading of 50.4.