21 Nov 2013
China's flash HSBC PMI below estimates, 2-month low
FXstreet.com (Barcelona) - China's Preliminar HSBC Manufacturing PMI (Nov) came at XX vs 50.9 expected and 50.9 last, a two-month low. Meanwhile, Flash China Manufacturing Output Index stood at 51.3 (51.1 in October), an eight-month high.
According to Hongbin Qu, Chief Economist China and Co-Head of Asia Economic Research at HSBC: "China's growth momentum softened a little in November, as the HSBC Flash China Manufacturing PMI moderated due to the weak new export orders and slowing pace of restocking activities. That said, this is still the second-highest PMI reading in seven months. The muted inflationary pressures should enable Beijing to keep policy relatively accommodative to support growth."
According to Hongbin Qu, Chief Economist China and Co-Head of Asia Economic Research at HSBC: "China's growth momentum softened a little in November, as the HSBC Flash China Manufacturing PMI moderated due to the weak new export orders and slowing pace of restocking activities. That said, this is still the second-highest PMI reading in seven months. The muted inflationary pressures should enable Beijing to keep policy relatively accommodative to support growth."