Economic Calendar: Dec 1–7, 2025
High-Impact Events
Dec 1 — 🇺🇸 ISM Manufacturing PMI (Forecast: 48.6 | Previous: 48.7)
Prediction: Below 50 = contraction continues
Dec 2 — 🇪🇺 Eurozone Inflation YoY Flash (Forecast: 2.2% | Previous: 2.1%)
Prediction: Slight uptick; ECB stays cautious
Dec 3 — 🇦🇺 Australia GDP QoQ (Forecast: 0.7% | Previous: 0.6%)
Prediction: Modest growth; inline expected
Dec 3 — 🇺🇸 ISM Services PMI (Forecast: 52.1 | Previous: 52.4)
Prediction: Expansion slowing
Dec 5 — 🇨🇦 Canada Unemployment (Forecast: 7.0% | Previous: 6.9%)
Prediction: Labor softening
Dec 5 — 🇺🇸 Core PCE MoM (Forecast: 0.2% | Previous: 0.2%)
Prediction: Stable; Fed's preferred metric
Released Today
🇨🇳 China Manufacturing PMI: Actual 49.9 vs Forecast 50.4 — Miss. Signals contraction.[1]
Market Impact Assessment
• U.S. Manufacturing — Bearish; sustained contraction
• U.S. Services — Neutral; still expanding but decelerating
• Core PCE — Neutral; stable inflation, no Fed pivot pressure
• Eurozone Inflation — Mildly Bearish EUR; sticky inflation
• China PMI — Bearish; demand weakness persists
• Canada Labor — Mildly Bearish CAD; rising unemployment
Overall Outlook: Neutral to Mildly Bearish
Key drivers:
1. U.S. data (ISM + Core PCE) will dominate sentiment.
2. China weakness adds global growth concern.
3. Stable inflation reduces near-term Fed cut speculation.
Risk assets may face headwinds mid-week if Services PMI disappoints. Watch Friday's Core PCE closely for directional clarity.