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23 Apr 2014
China HSBC PMI at 2-month high, but still a miss...
FXStreet (Bali) - Flash China Manufacturing PMI came at 48.3 in April vs 48.0 in March, a two-month high, although missing expectations of 48.4.
Commenting on the Flash China Manufacturing PMI
survey, Hongbin Qu, Chief Economist, China, at HSBC said:
“The HSBC Flash China Manufacturing PMI stabilised at 48.3 in April, up from 48.0 in March. Domestic demand showed mild improvement and deflationary pressures eased, but downside risks to growth are still evident as both new export orders and employment contracted."
"The State Council released new measures to support growth and employment after the release of Q1 GDP. Whilst initial impact will likely be limited, they signalled readiness to do more if necessary. We think more measures may be unveiled in the coming months and the PBoC will keep sufficient liquidity.”
Commenting on the Flash China Manufacturing PMI
survey, Hongbin Qu, Chief Economist, China, at HSBC said:
“The HSBC Flash China Manufacturing PMI stabilised at 48.3 in April, up from 48.0 in March. Domestic demand showed mild improvement and deflationary pressures eased, but downside risks to growth are still evident as both new export orders and employment contracted."
"The State Council released new measures to support growth and employment after the release of Q1 GDP. Whilst initial impact will likely be limited, they signalled readiness to do more if necessary. We think more measures may be unveiled in the coming months and the PBoC will keep sufficient liquidity.”