China PMIs due next week - improvement expected

Author: Eamonn Sheridan | Category: News

China's purchasing managers' indexes for September are due on September 30 (at 0100GMT)

The official PMIs from the NBS. Manufacturing
  • expected 51.5, prior 51.0
Non manufacturing 
  • expected 54.9, prior 55.2

Analysts citing (in brief):
  • Oxford coronavirus government restrictions indexes show on balance more relaxation in social distancing measures across China's major trading partners in September compared with August
  • Recent flareups of the coronavirus numbers in many major economies appear to have mainly impacted on service sectors, manufacturing has held up. 
  • China's exports have been boosted by being the first in, and the first out of the virus impact, the country has gained market share
  • China's domestic recovery is continuing, government support remains robust
Some of the indicators that are indicative for the PMIs:
  • China Small Medium Enterprises Confidence Index (from Standard Chartered) dipped a little in September, but held above its average reading over the past two years
  • Construction activity has remained supportive (government infrastructure spending)
  • Excavator sales stayed strong in August (indicative of construction demand)

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