HONG KONG, May 27, 2011 /PRNewswire-Asia/ -- A snapshot of business sentiment is available next week with the release of Chinese PMI data for May from HSBC/Markit on Wednesday 1st. The softer tone to recent newsflow provides food for thought to policy makers, who have recently drawn criticism about the aggressive tightening cycle undertaken. The tougher policy environment in China has shown signs of slowing the effervescent property market. Despite this, the commercial property sector is continuing to boom.
Indian Q1 GDP to show resilience in the face of recent interest rate hikes
The coming week sees the release of a number of important macro indicators in India. Most notably on Tuesday 31st, Q1 GDP will be published alongside April infrastructure output numbers. This will be followed on Wednesday 1st by the May PMI and the April trade numbers. The headline figure for economic growth will be most closely watched in the wake of the tightening in monetary policy that has been sanctioned over the past year; the repo rate has climbed from 4.75% last March to its current level of 7.25%.
Canadian economy turning to business investment and trade as drivers of growth
The coming week sees the release of GDP data for March and Q1 2011 on Monday 30th proceeded by the Bank of Canada's (BoC) policy rate announcement the following day. GDP in February surprised on the downside, showing the economy contracting 0.2%. However, the dataflow suggests a solid rebound in March, with manufacturing sales up 1.9% on the month (4% quarter on quarter).
H2 likely to be tough for Spanish property sector
The Spanish May manufacturing PMI survey is due Wednesday 1st with the services PMI on Friday 3rd. A reading of 50 marks the dividing line between expansion and contraction. The previous month's readings suggest, overall, a relatively flat growth picture but set against depressed levels of output. Indeed, the manufacturing number came in at 50.6 and the services reading was 50.4.
Please download from the following for the complete report content: http://ricsasia.org/webpage.php?id=97
For further details of RICS, please visit their new website: www.ricsasia.org
Media enquiry, please contact:
Ms Belinda Chan / Ms Polly Tsang
Tel: +852-2372-0090 Fax: +852-2372-0490
Email: belinda@creativegp.com / polly@creativegp.com
