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CHINA: Manufacturing PMI’s Dip into Contraction. 

CHINA
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • January PMI Manufacturing disappointed slipping to 49.1 from 50.1 in December.
  • January PMI non- Manufacturing disappointed slipping to 50.2 from 52.2 in December.
  • Both readings were below market expectations.
  • Industrial profits’ drop in December of -3.3% signifies are third year for deflation for Chinese corporates and likely will feed into the bond rally in the near term.
  • Despite the YoY figure rose 11%.
  • The PMIs  may not be too much to raise concerns given the impending lunar year holiday, but the profit numbers speak to the ongoing challenges.
  • The composite PMI is barely holding onto expansion at 50.1.
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  • January PMI Manufacturing disappointed slipping to 49.1 from 50.1 in December.
  • January PMI non- Manufacturing disappointed slipping to 50.2 from 52.2 in December.
  • Both readings were below market expectations.
  • Industrial profits’ drop in December of -3.3% signifies are third year for deflation for Chinese corporates and likely will feed into the bond rally in the near term.
  • Despite the YoY figure rose 11%.
  • The PMIs  may not be too much to raise concerns given the impending lunar year holiday, but the profit numbers speak to the ongoing challenges.
  • The composite PMI is barely holding onto expansion at 50.1.