Economic and event calendar in Asia Monday, January 5, 2026 – Japan and China PMI data

The economic and event calendar in Asia for today is a light one, with the December manufacturing PMI due from Japan and the Rating Dog Services PMI due from China.

You’ll also see listed speeches from Federal Reserve Bank of Philadelphia President Anna Paulson and Federal Reserve Bank of Minneapolis President Neel Kashkari.

Paulson spoke on Saturday, I’ll post separately this (TL;DR is she said more Federal Open Market Committee (FOMC) rate cuts probably won’t happen until later in 20260. As for Kashkari, I think the time listed for his speech is inaccurate. I have him speaking on Monday, US time, not Sunday. I could be wrong, let me know in the comments if so.

As for the data due here today.

On Japan’s December manufacturing PMI, the preliminary for this rose to 49.7, from 48.7 in November. While this flash reading indicated contraction persisted it eased to its mildest pace in around 18 months. We’ll get the final December reading today at 0030 GMT / 1930 US Eastern time.

China’s Rating Dog Services PMI for December will follow at 0145 GMT / 2045 US Eastern time.

Last week we had the official manufacturing and services PMIs, along with the Rating Dog manufacturing PMI:

• China official December 2025 PMIs: Manufacturing 50.1 (exp 49.2) Non-manu 50.2 (exp 49.8)
  • the Services PMI Business Activity Index slipped to 52.5 from 53.2, signalling continued but slower expansion.
• China S&P Global/Rating Dog December 2025 Manufacturing PMI 50.1 (expect 49.8, prior 49.9)

I’ve posted this before, but ICYMI:

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China publishes two main PMI surveys, each capturing different parts of the industrial landscape. The official PMI is compiled by the National Bureau of Statistics and focuses primarily on large, state-owned and government-linked enterprises. Alongside this, the private-sector PMI, produced by S&P Global / RatingDog, places greater emphasis on small and medium-sized enterprises, making it a closely watched gauge of conditions in China’s private economy. The RatingDog PMI is due at 0145 GMT.

The distinction matters. While the official PMI tends to reflect conditions among larger firms with better access to credit and policy support, the private-sector survey is often seen as more sensitive to shifts in domestic demand, pricing power and employment conditions. Methodological differences also play a role, with the Caixin/RatingDog survey drawing from a broader and more diverse sample of companies. Despite these contrasts, the two PMIs often move in the same direction, offering complementary signals on the health of China’s manufacturing sector.

This article was written by Eamonn Sheridan at investinglive.com.