APAC Daily Chart Book
January 6, 2025
China
We are back for 2025, with some PMI updates. China’s S&P Global-Caixin and NBS-CFLP PMIs were in modestly expansionary territory across the board in December, with solid readings for the services/non-manufacturing sector providing an offset to a still subdued manufacturing sector. The expectations component of the NBS-CFLP PMIs rose strongly for non-manufacturing, but deteriorated for manufacturing. The authorities will be pleased that the services sector at least was showing signs of life to close out 2024.
Japan
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