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China official July Manufacturing PMI 49.3 (vs. expected 49.2) & Services 51.5
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Decline in China factory activity extends into a fourth month
China’s factory activity contracted for a fourth consecutive month in July, while non-manufacturing activity slowed to its weakest this year as the world’s second-largest economy struggles to revive growth momentum in the wake of soft global demand. The official manufacturing purchasing managers’ index came in at 49.3 in June — compared with 49.0 in June, 48.8 in May and 49.2 in April — according to data from the National Bureau of Statistics released on Monday. July’s reading was slightly better than the 49.2 median forecast in a Reuters poll. Monday’s figures also showed China posting its weakest ... (full story)
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AUD has popped a little on the marginal improvement for China's manufacturing PMI
A couple of AUD-relevant data points: • China official July Manufacturing PMI 49.3 (vs. expected 49.2) & Services 51.5. • Australian data - June Private Sector Credit +0.2% m/m (expected 0.4%, prior 0.4%). The headline to this post could well be a bit of a stretch, yes the manufacturing PMI improved a touch. But its still in contraction and the non-manufacturing PMI dropped on the month. The manufacturing PMI has been under 50 now for 4 straight months. Perhaps there will be a boost for China alter: • China to announce more stimulus measures on Monday, Beijing time. This has been AUD supportive for the ... (full story)
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China's factory activity extends declines, firming case for stimulus
China's manufacturing activity fell for a fourth straight month in July, albeit at a slower pace, an official factory survey showed on Monday, reinforcing the need for further policy support to boost domestic demand. The official purchasing managers' index (PMI) was at 49.3 from 49.0 in June, according to data from the National Bureau of Statistics, staying below the 50-point mark that separates expansion from contraction. The outcome also just beat a forecast of 49.2. The world's second-largest economy grew at a slow pace in the second quarter, as demand remained weak at home and abroad, leading the Politburo - a ... (full story)