China – HSBC/Markit Flash reading for manufacturing PMI for January:
- expected is 49.5
- prior was 49.6
- A 2-month high
- The output index is at 3-month high
Hongbin Qu, Chief Economist, China & CoHead of Asian Economic Research at HSBC:
- “The HSBC China Manufacturing PMI rose to 49.8 in the flash reading for January, up from 49.6 in December.
- Domestic demand improved marginally while external demand remained solid.
- The labour market weakened and prices fell further.
- Today’s data suggest that the manufacturing slowdown is still ongoing amidst weak domestic demand.
- More monetary and fiscal easing measures will be needed to support growth in the coming months.”
