The Day at a Glance | January 2 2024

*The Eurozone´s final manufacturing PMI and China’s Caixin index both logged readings with a positive bias in December.

*China lifts its bank loan policy, raising expectations of support for the real-estate sector.

*Oil prices rise due to fears of disruption following the latest attacks in the Red Sea.

*The number of victims of the earthquake in Japan approaches 50, and there are concerns that many may be trapped.

*All passengers and crew escaped the fire on the Japan Airlines plane after a collision at Tokyo airport.

Economic environment

The Eurozone and China are reporting figures with a positive bias in their manufacturing PMI indexes. On one hand, the Caixin index recorded a 50.8 point figure in December of 2023, higher than the 50.7 the previous month. Meanwhile, the Eurozone´s PMI index slightly increased to 44.4 points in December, setting just above the 44.2 point figure recorded in November. It´s worth noting that these PMI indices are designed to forecast the economy´s performance, and a reading above 50 points is associated with expansion, while any figure below that threshold indicates a contraction. The information for both PMI indices was collected between December 5th and 15th, so the new disruptions in global trade in the Red Sea are not captured in the reported data.

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