China’s PMI, Indonesia Inflation Warning, Singapore GDP: Eco Day

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Welcome to Tuesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day.

• China’s December Caixin manufacturing PMI will be a key data release in the first week of 2022. We expect the gauge to show the economy is stabilizing but yet to regain traction
  • China’s hot factory-gate inflation is poised to cool in 2022, while consumer price inflation will probably pick up but remain relatively mild
  • A wall of maturing debt and a surge in seasonal demand for cash will test China’s financial markets this month, putting pressure on the central bank to ensure sufficient liquidity
• Indonesia must be watchful of price pressures this year, the finance chief said, offering a rare warning for an economy that’s enjoyed benign inflation in 2021
• Singapore’s recovery accelerated in the final three months of 2021, with easing virus restrictions and strong manufacturing helping push the economy to its fastest full-year growth in more than a decade
• South Korea’s export growth eased substantially in December, and is set to slow further in 2022 as external demand normalizes and the base of comparison becomes less favorable
• The White House is likely to nominate economist Philip Jefferson for a seat on the Fed board of governors, according to people familiar with the matter
• Asia and European factory activity continued expanding in December, lifted by resilient demand and easing supply-chain bottlenecks 
• Turkish inflation surged to a 19-year high in December, propelled by a slump in the lira and President Recep Tayyip Erdogan’s push for cheaper borrowing
• Wall Street’s push to refill office towers across the country has been derailed again

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