From China HSBC and official government's Manufacturing PMI data was released. HSBC China's Manufacturing PMI posted at 49.6 in March, up slightly from an earlier flash reading of 49.2. Analysts were predicting no change from prelim reading. The sector continues to struggle to gain growth traction. However, this was down from 50.7 in February and signalled a renewed deterioration in the health of the sector. The latest data indicate that domestic and foreign demand remains subdued amid weaker market conditions, which dampened output growth as a result.
Separate official government’s manufacturing Purchasing Managers’ Index was 50.1 last month, from 49.9 in February. The rebound in the factory gauge reflected accelerated production activity after the Spring Festival holiday, while the government’s recent measures to help growth have boosted optimism, the NBS said in a statement.
Thursday brought Trade Balance figures. In seasonally adjusted terms, Australian balance on goods and services showed a deficit of $1,256m in February 2015, an increase of $253m (25%) on the deficit in January 2015. This was in line with market forecasts. Goods and services credits rose $282m (1%) to $27,874m, while goods and services debits rose $534m (2%) to $29,129m.
Next week markets will be looking at:
Retail Sales (Tuesday 3:30)
ANZ Job Advertisements (Tuesday 3:30)
Cash Rate/ RBA Rate Statement (Tuesday 3:30)
Home Loans (Friday 3:30)
Chinese CPI/PPI (Friday 3:30)
