-
China Oct PMIs: Manufacturing 49.5 (expected 50.2) Non-manufacturing 50.6 (expected 51.8)
China has two primary Purchasing Managers' Index (PMI) surveys - the official PMI released by the National Bureau of Statistics (NBS) and the Caixin China PMI published by the media company Caixin and research firm Markit / S&P Global. The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers small and medium-sized enterprises. As a result, the Caixin PMI is considered to be a more reliable indicator of the performance of China's private sector. Another difference between the two surveys is their methodology. The Caixin PMI survey uses a broader sample of companies than the ... (full story)
-
China's NBS Manufacturing PMI contracts to 49.5 in September vs. 50.2 expected
China’s official Manufacturing Purchasing Managers' Index (PMI) unexpectedly contracted in September, arriving at 49.5 when compared to the 50.2 expansion in July, the latest data published by the country’s National Bureau of Statistics (NBS) showed on Tuesday. The market consensus was for a 50.2 figure. The index dropped back below the 50 mark, which separates expansion from contraction. The NBS Services PMI declined to 50.6 in September versus the expected 51.8 figure and 51.7 previous. AUD/USD reaction to China's PMI data: The downbeat Chinese PMIs weigh on the Australian Dollar, with AUD/USD testing lows near ... (full story)
-
China's factory activity unexpectedly contracted in October
China's manufacturing activity unexpectedly contracted in October, an official factory survey showed on Tuesday, casting a cloud over recent indicators that showed a nascent recovery in the world's second-largest economy. The official purchasing managers' index (PMI) fell to 49.5 in October from 50.2, dipping back below the 50-point level demarcating contraction from expansion. The reading missed a forecast of 50.2. Policymakers have since June unveiled a raft of measures to shore up growth, including modest interest rate cuts, increased cash injections and aggressive fiscal stimulus. However, analysts say more ... (full story)
-
China manufacturing PMI shrinks in Oct, services growth slows
Chinese manufacturing activity unexpectedly shrank in October, while non-manufacturing activity grew at a slower pace as domestic businesses faced continued pressure from worsening local and overseas demand. The manufacturing purchasing managers index (PMI) read 49.5 in October, according to data from the National Bureau of Statistics. The reading was lower than expectations that growth would remain steady at the 50.2 seen last month. A reading below 50 indicates contraction, with the manufacturing PMI now slipping back into contraction after growing slightly in September. The sector has faced increased headwinds ... (full story)