February 8, 2023

Forex Solution

Learn To Trade Forex

Manufacturing 51.1 (vs. expected 51.8) & Non-manufacturing 54.9 (expected 56.1)

1 min read

China official PMIs for April, published by the National Bureau of Statistics and China Federation of Logistics and Purchasing. 

Manufacturing well under the median central estimate at 51.1 
Non-manufacturing missing also, comes in at 54.9
Composite 53.8

Both the manufacturing and non-manufacturing were expected to dip back from March levels but the drops are much more than expected. Both are still in expansion but the results do indicate just a little heat coming out of the Chinese economy.

China proxy trades (eg. the AUD) are off just a little on the release.  

NBS notes that firms in China are suffering from the chip shortage and ‘impeded international logistics’. 

Still ahead, due at 0145 GMT from China:


Caixin/Markit Manufacturing PMI for April

Invest in yourself. See our forex education hub.

Source link

Copyright © All rights reserved. | Newsphere by AF themes.