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Both China PMIs Back Into Contractionary Territory

CHINA DATA

Both China PMIs were weaker than expected. The manufacturing print at 49.2, versus 49.8 expected and 50.1 previously. The non-manufacturing PMI fell to 48.7, against a 50.1 forecast and 50.6 prior. Interestingly, no economist surveyed pencilled in this degree of fall for the non-manufacturing PMI. The composite PMI fell to 49.0 from 50.9. These data prints point to downside risks for China growth momentum in the early stages of Q4.


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Both China PMIs were weaker than expected. The manufacturing print at 49.2, versus 49.8 expected and 50.1 previously. The non-manufacturing PMI fell to 48.7, against a 50.1 forecast and 50.6 prior. Interestingly, no economist surveyed pencilled in this degree of fall for the non-manufacturing PMI. The composite PMI fell to 49.0 from 50.9. These data prints point to downside risks for China growth momentum in the early stages of Q4.


Keep reading...Show less