24 Jul 2014
China HSBC PMI soars to 18-month high
FXStreet (Bali) - The preliminary China HSBC manufacturing PMI for July came at 52 vs 51.1 last, a reading that represents an 18-month high.
Commenting on the Flash China Manufacturing PMI
survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Research, at HSBC, said:
“The HSBC China Manufacturing PMI rose further to 52.0 in the flash reading for July. Both new orders and new export orders expanded at a faster pace than in June. The employment and prices sub-indices also improved. Meanwhile, stocks of finished goods contracted at a slower pace."
"Economic activity continues to improve in July, suggesting that the cumulative impact of mini-stimulus measures introduced earlier is still filtering through. We expect policy makers to maintain their accommodative stance over the next few months to consolidate the recovery.”
Commenting on the Flash China Manufacturing PMI
survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Research, at HSBC, said:
“The HSBC China Manufacturing PMI rose further to 52.0 in the flash reading for July. Both new orders and new export orders expanded at a faster pace than in June. The employment and prices sub-indices also improved. Meanwhile, stocks of finished goods contracted at a slower pace."
"Economic activity continues to improve in July, suggesting that the cumulative impact of mini-stimulus measures introduced earlier is still filtering through. We expect policy makers to maintain their accommodative stance over the next few months to consolidate the recovery.”