HSBC/Markit Flash reading for manufacturing PMI from China for January
- expected 50.3
- prior was 50.5 (which was a 3 month low)
–
- 6-month low
Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:
“The marginal contraction of January’s headline HSBC Flash China Manufacturing PMI was mainly dragged by cooling domestic demand conditions. This implies softening growth momentum for manufacturing sectors, which has already weighed on employment growth. As inflation is not a concern, the policy focus should tilt towards supporting growth to avoid repeating growth deceleration seen in 1H 2013.”
