Economic calendar in Asia Monday May 6, 2024

Caixin China Services and Composites PMIs will close the April China PMIs. Earlier:

  • China April 2024 Official manufacturing PMI 50.4 (expected 50.3) Services 51.2 (exp 52.2)
  • China April Caixin manufacturing PMI 51.4 (expected 51.0)

All solidly expanding, we expect the same from today’s data.


China has two main Purchasing Managers’ Index (PMI) surveys: the official PMI published by the National Bureau of Statistics (BES) and the Caixin China PMI published by the Caixin media company and research company Markit/S&P Global.

  • The official PMI survey covers large companies and state-owned enterprises, while the Caixin PMI survey covers small and medium-sized companies. As a result, the Caixin PMI is considered a more reliable indicator of Chinese private sector performance.
  • Another difference between the two surveys lies in their methodology. The Caixin PMI survey uses a larger sample of companies than the official survey.
  • Despite these differences, the two surveys often provide similar results on the Chinese manufacturing sector.


From Australia we have the first indication of April’s monthly inflation data. Australia’s official CPI data (March and Q1) that we released a few weeks ago confirmed persistently high levels that will ensure the RBA remains on hold for many months to come.

The RBA meets today and tomorrow, presents:

  • RBA meeting next week – preview – Cash rate to remain unchanged

This article was written by Eamonn Sheridan at


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