APAC Daily Chart Book
December 18, 2023
United States
FRBNY Q4 GDP nowcast updates at 2.2%, Atlanta Fed at 2.6% and St Louis Fed at 1.7%.
S&P Global flash PMIs showed continued divergence between services and manufacturing. Services and composite measures firmed in December, with the composite measure at 51 compared to 50.7 in November. Manufacturing slipped further into contractionary territory at 48.2 compared to 49.4 in November.
New Zealand
The Westpac-McDermott Miller Consumer Confidence Index rose 8.7 points to 88.9 in December, but remains at depressed levels relative to its historical average, consistent with the contraction in economic activity reported in Q3.
BusinessNZ services PMI has firmed to 51.2 in November from 49.2 in October, consistent with the already reported bounced in the manufacturing PMI. Services sector continues to significantly outperform.
