3 Feb 2014
China PMI comes at 6-month low
FXstreet.com (Barcelona) - In news published over the weekend, the official Chinese PMI fell to 50.5 in January, a result much in line with expectations, although it continues to suggest softer manufacturing activity as the number marks a 6-month low.
As fung business intelligence centre reports, output, new orders, purchases of inputs, were all expanding, while new export orders, stocks of finished goods, backlogs of orders, imports, stocks of major inputs, were contracting. Input prices were falling, while suppliers’ delivery was slower, the report suggested.
The latest 13/14 PMIs show a downward pattern since peaking in October. In 2013, we saw PMIs of Aug 51.0, Sep 51.1, Oct 51.4, Nov 51.4, Dec 51.0. In 2014, Jan 50.5 has come 0.5 bp below the prior month. Not entirely unexpected though, as the Chinese new year usually slows down activity on early factory closures.
As fung business intelligence centre reports, output, new orders, purchases of inputs, were all expanding, while new export orders, stocks of finished goods, backlogs of orders, imports, stocks of major inputs, were contracting. Input prices were falling, while suppliers’ delivery was slower, the report suggested.
The latest 13/14 PMIs show a downward pattern since peaking in October. In 2013, we saw PMIs of Aug 51.0, Sep 51.1, Oct 51.4, Nov 51.4, Dec 51.0. In 2014, Jan 50.5 has come 0.5 bp below the prior month. Not entirely unexpected though, as the Chinese new year usually slows down activity on early factory closures.