Weekend Preview

January 29th, 2016 2:15 pm | by John Jansen |

Via Robert Sinche at Amherst Pierpont Securities:

AUSTRALIA: The AiG Performance of Manufacturing index for January will follow a 51.9 reading in December, capping a 6-month trend of readings >50.

CHINA: The Bberg consensus expects the Official China Manufacturing PMI to slip to 49.6 in January from 49.7, which would match the 3-year low set in November. There is no Bberg consensus for the Non-Manufacturing PMI, but the trend in late 2015 was encouraging, with the index up to 54.4 in December, the strongest since June 2014.

S. KOREA: The December Manufacturing PMI jumped to 50.7 in December, which was the first reading above 50 since February, and another reading >50 would be very encouraging. The Bberg consensus expects January Exports to be reported down -10.3% YOY, a meaningful improvement from -14.3% YOY in December.

INDIA: The January Manufacturing PMI will follow a disappointing drop to 49.1 in December, the first drop below 50 since October 2013.

JAPAN: The January Manufacturing PMI is expected to be confirmed at a solid 52.4, the 4th straight reading above 52.

RUSSIA: The Bberg consensus expects the January Manufacturing PMI to slip to 47.5 from 48.7, a drop that would create a new record low for this index that started in January 2013.

EURO ZONE: The Bberg consensus expects the January Manufacturing PMI to be confirmed at 52.3, just above the 52.2 average of 2015.

GERMANY: The Bberg consensus expects the January Manufacturing PMI to be confirmed at 52.1, equal to the 52.1 average of 2015.

FRANCE: The Bberg consensus expects the January Manufacturing PMI to be confirmed at 50.0, above the 49.6 average of 2015.

ITALY: The Bberg consensus expects the January Manufacturing PMI to slip to a still-strong 54.8 from 55.6 in December.

SPAIN: The Bberg consensus expects the January Manufacturing PMI to slide to 52.5 from 53.0 and below the 53.6 average of 2015.

UK: The Bberg consensus expects the January Manufacturing PMI to slide to 51.6 from 51.9 and below the 52.6 average of 2015.

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