July 1, 2012 Critical 12 Hours For The Global Economy Begins Tonight ...
HEADS UP: Global PMI day is going to begin tonight. PMI day is the day (always at the beginning of the month) when PMI manufacturing reports come out for all the world's big economies, from China to Europe to Brazil.
And we cover each reading as they come out so get an instant look at the economic health of the globe.
The reports start tonight with the Netherlands and South Korea at 8 PM ET, and then the biggie, China, at 9 PM. (Note that China's official PMI came out last night, and hit its lowest level in 7 months.
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What comes out tonight is the HSBC version.
They go through the night with Europe and then the US on Monday morning.
Last month's PMI day confirmed that basically the entire world is slowing. This next round of data will be critical to indicate whether things have deteriorated or stabilized.
PMI: Netherlands and South Korea 9:00 p.m.
PMI: China (Official )10:00 p.m.
PMI: Taiwan, and Vietnam 10:30 p.m.
PMI: China (HSBC) 11:00 p.m.
PMI: Indonesia 1:00 a.m.
PMI: India, Russia 2:00 a.m.
PMI: Ireland 2:30 a.m.
PMI: Sweden (Exp. 48.5) 3:00 a.m.
PMI: Turkey, Norway (Exp. 54.6), Poland (Exp. 48.6) 3:00 a.m.: Turkey Q1 GDP (Exp. +3.0% yoy) 3:15 a.m. PMI: Spain (Exp. 41.3) 3:30 a.m.
PMI: Czech Republic and Switzerland (Exp. 45.0) 3:45 a.m.
PMI: Italy (Exp. 44.6) 3:50 a.m.
PMI: France (Exp. 45.3 )3:55 a.m.
PMI: Germany (Exp. 44.7) 4:00 a.m.
PMI: Greece, Eurozone (Exp. 44.8) 4:00 a.m.: Italian May unemployment (Exp. 10 basis point increase to 10.3%) 4:30 a.m.
PMI: United Kingdom (Exp. 46.5) 5:00 a.m.
PMI: Denmark, South Africa, Australia5:00 a.m.: Eurozone May unemployment (Exp. 10 basis point increase to 11.1%) 9:00 a.m.
PMI: Brazil and United States (Markit)10:00 a.m.
PMI: United States, (ISM, Exp. 52.0)10:30 a.m.
PMI: Mexico11:00 a.m. PMI: Global