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4 Jan 2016
China prints weak data while housing data remains unchanged in Australia - TDS
FXStreet (Delhi) – Research Team at TDS, notes that the Australia’s core Logic House price data showed median house prices were unchanged in December.
Key Quotes
“While Sydney, Canberra and Adelaide prices fell, prices rose in the remaining capital cities. For 2015, median prices across all major cities rose nearly 8%, while Sydney rose 11.5%. With the moderation in house prices in the final months of 2015, the consensus call is for prices to ease further over the first few months of 2016.
China: The Caixin Manufacturing PMI for Dec came in below expectations at 48.2 vs 48.9 consensus, thanks largely to a drop in the output component and weak external demand (sharp drop in the new exports subcomponent). In contrast, the official non-manufacturing PMI released on Jan 1st jumped to a 16m high. The upshot for us is that weak external demand is weighing on manufacturing, but the desired expansion in services, as sought by officials is gathering pace.”
Key Quotes
“While Sydney, Canberra and Adelaide prices fell, prices rose in the remaining capital cities. For 2015, median prices across all major cities rose nearly 8%, while Sydney rose 11.5%. With the moderation in house prices in the final months of 2015, the consensus call is for prices to ease further over the first few months of 2016.
China: The Caixin Manufacturing PMI for Dec came in below expectations at 48.2 vs 48.9 consensus, thanks largely to a drop in the output component and weak external demand (sharp drop in the new exports subcomponent). In contrast, the official non-manufacturing PMI released on Jan 1st jumped to a 16m high. The upshot for us is that weak external demand is weighing on manufacturing, but the desired expansion in services, as sought by officials is gathering pace.”