MNI China Daily Summary: Friday, November 22

UK NOV FLASH MANUF PMI 48.6 (FCST: 50.0); OCT 49.9

EUROZONE NOV FLASH MANUF PMI 45.2 (FCST: 46.0); OCT 46.0

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

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MNI China Daily Summary: Thursday, November 21

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

GERMANY NOV FLASH MANUF PMI 43.2 (FCST: 43.0); OCT 43.0

FRANCE NOV FLASH MANUF PMI 43.2 (FCST:44.5); OCT 44.5

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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CANADA DATA: Starts Slide With Continued Multi-Unit Noise

CANADA DATA
GlobalCanadaData BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsRegionNorth America
  • Housing starts were softer than expected at 217.4k (cons 250k) in August after an almost unrevised 279.8k in July.
  • The 22% drop continues what’s been an extremely volatile run of data, following +16% in July, -10% in June and +11% in May (all % M/M sa).
  • It’s being driven by urban multi-units (-29% after +21%) whilst urban single dwelling units continue what’s been a strong run recently away from the noise (+2.8% after +1.8%).
  • Single dwelling unit starts have now increased 11% over five consecutive monthly increases but continue to be dwarfed in absolute size by multi-units. 
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  • Housing starts were softer than expected at 217.4k (cons 250k) in August after an almost unrevised 279.8k in July.
  • The 22% drop continues what’s been an extremely volatile run of data, following +16% in July, -10% in June and +11% in May (all % M/M sa).
  • It’s being driven by urban multi-units (-29% after +21%) whilst urban single dwelling units continue what’s been a strong run recently away from the noise (+2.8% after +1.8%).
  • Single dwelling unit starts have now increased 11% over five consecutive monthly increases but continue to be dwarfed in absolute size by multi-units.