1 Dec 2014
HSBC China PMI unchanged at 50.00, lowest since May
FXStreet (Bali) - The HSBC Purchasing Managers’ Index™ (PMI) saw no-change from the initial 50.00 flash estimate, confirming it was the lowest index reading since May this year.
Commenting on the China Manufacturing PMI™ survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “The HSBC China Manufacturing PMI fell to a six-month low of 50.0 in the final reading for November, down from 50.4 in October and unchanged from the flash reading. Domestic demand expanded at a sluggish pace while new export order growth eased to a five-month low."
"Disinflationary pressures remain strong while the labour market weakened further. Today's data suggest that the manufacturing sector lost momentum and point to weaker economic activity in November. The PBoC's rate cuts, delivered on the 21st November, will help to stabilise property and manufacturing investment in the coming months. We continue to expect further monetary and fiscal easing measures to offset downside risks to growth” Qu added.
Commenting on the China Manufacturing PMI™ survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “The HSBC China Manufacturing PMI fell to a six-month low of 50.0 in the final reading for November, down from 50.4 in October and unchanged from the flash reading. Domestic demand expanded at a sluggish pace while new export order growth eased to a five-month low."
"Disinflationary pressures remain strong while the labour market weakened further. Today's data suggest that the manufacturing sector lost momentum and point to weaker economic activity in November. The PBoC's rate cuts, delivered on the 21st November, will help to stabilise property and manufacturing investment in the coming months. We continue to expect further monetary and fiscal easing measures to offset downside risks to growth” Qu added.