Markit Group Limited | Oct 02, 2020 12:24
While official data such as trade and industrial production released in the coming week will give important steers as to the strength of economic rebounds around the world midway through the third quarter, service sector PMI surveys will add further insights into how these recoveries have been sustained into September. While manufacturing remained resilient globally in September, the worry is that consumer-facing sectors are being hit once again by tightening COVID-19 restrictions in many countries.
Global detailed sector PMI numbers will also be updated to reveal which industries are being the hardest hit from the continuing virus crisis.
An eye will also be kept on the US presidential election, with the week seeing Pence and Harris face off in the Vice Presidential debate, while monetary policy watchers will monitor the Reserve Bank of Australia meeting and FOMC minutes.
In the US, PMI data will reveal the extent to which the non-manufacturing sector has fared amid the ongoing pandemic and uncertainty caused by an ever-closer presidential election. Flash PMIs showed the economy maintaining robust momentum, but also found future growth expectations to have waned amid growing concerns about the outlook, especially in the service sector. Trade numbers will also be eagerly awaited after the last figures showed the US deficit rising to the highest since 2008, as will the minutes from the last FOMC meeting. The latter follows a meeting in which policymakers showed increased dovishness in relation to long-term low interest rates.
In Europe, a picture of robust UK growth has contrasted with a eurozone economy slowing to near stagnation, according to the September flash PMIs. Final service sector PMI numbers will add more colour to the emerging picture, as will industrial production numbers for Germany, Italy, France and Spain, as well as a GDP update for the UK.
In Asia, we'll be looking for clues as to the strength of the Chinese and Japanese economic recoveries via services PMIs. Detailed PMI numbers for Asia as a whole, export data for a number of countries and Japan's machinery orders are also updated.
"Disclaimer: The intellectual property rights to these data provided herein are owned by or licensed to Markit Economics Limited. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without Markit’s prior consent. Markit shall not have any liability, duty or obligation for or relating to the content or information (“data”) contained herein, any errors, inaccuracies, omissions or delays in the data, or for any actions taken in reliance thereon.
In no event shall Markit be liable for any special, incidental, or consequential damages, arising out of the use of the data. Purchasing Managers' Index™ and PMI™ are either registered trademarks of Markit Economics Limited or licensed to Markit Economics Limited. Markit is a registered trade mark of Markit Group Limited."
Written By: Markit Group Limited
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors.
More content, faster quotes and charts, and a smoother experience is available only on the App.