China October PMIs: Manufacturing 49.2 (prior 49.6) & Services 52.4 (prior 53.2)
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Purchasing Managers’ Index (PMI) data from China’s National Bureaus of Statistics and the China Federation of Logistics and Purchasing (CFLP)
Manufacturing PMI 49.2
- expected 49.7, prior 49.6
- the second month of contraction in a row, energy shortages and high input prices taking a toll
Non-manufacturing PMI 52.4
- expected 52.9, prior 53.2
- this is a reasonable result given ongoing COVID-19 disruptions (much smaller in scale than those mid-2021 and of course in 2020)
Composite 50.8
- prior 51.7
Still to come from China on October PMIS are those from Caixin, these are the privately survey PMIs. Coming up from November 1:
- Monday 0145 GMT brings the Manufacturing PMI, expected 50, prior 50
- Wednesday 0145 GMT brings the Non-manufacturing PMI, prior 53.4
