At 8:45 PM ET, we'll get the HSBC Flash China Manufacturing PMI, which will give us a sense of how the Chinese economy is doing to start the new year.
Last quarter, GDP growth accelerated again. People will look to tonight's PMI report for confirmation this growth is continuing.
In his latest note to clients, Oppenheimer's John Stoltzfus included a chart of quarterly GDP growth since 1998:
China’s economic growth rose for the first time in two years as government efforts to re-start the economy took hold to deliver rebounds in retail sales, industrial production and the housing market. Skepticism followed the announcement of the number from some corners of the market as usual, but overall the announcement was well received as the move was in the right direction—up.
