Private survey PMIs from Caixin / Markit
Caixin Services PMI 50.6
- prior 52.7
- September result is a 21 month low
Composite 51.4
- prior 52.4
- 3 month low
- slowdown was driven by weaker increases in output at both manufacturing and services companies
Commenting on the China General Services PMI™ data, Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group said:
- Although new business rose at a slower rate last month than in August, input costs and prices charged both increased.
- The Chinese economy generally held up well in the third quarter. However, the expansion in both manufacturing and services cooled in September, suggesting downward pressure on economic growth may re-emerge in the fourth quarter.
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Earlier for September PMIs:
- China (Sep.) Manufacturing PMI 52.4 (expected 51.6, prior 51.7) & Services 55.4 (prior 53.4)
- China - September Caixin / Markit Manufacturing PMI: 51. 0 (expected 51.5)
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AUD a touch weaker after the data