China PMIs (October): Manufacturing 49.8 (50.0 expected) Services 53.1 (53.4 prior)
Official PMI from China over the weekend.
October Manufacturing PMI comes in at 49.8
- Expected is 50.0 and Prior was 49.8
- The third month in a row for contraction in this survey
October Non-Manufacturing PMI at 53.1
- Prior was 53.4
The combination of a miss on expectations for the Manufacturing PMI and a fall from last month in the 'services' PMI is not a positive for the China outlook. These are
overly (should read) not overly bad data points for the PMI but they are indicative of further expectations for more stimulus efforts from China.
The Caixin Markit Manufacturing PMI is due on Monday 2 November at 0145GMT
Added: Reuters report on the PMIs is here