1 Aug 2013
China PMI expands, take data with grain of salt
FXstreet.com (Barcelona) - The Chinese PMI has come above expectations, which in a way, is quite puzzling, as it divorces quite noticeably from other indicators seen in recent weeks, one being the 11-month low in the HSBC PMI last week.
According to Eamonn Sheridan from Forexlive: "It strains credibility to think the PMI expanded, and above last month’s result. And lets not forget, last month China said it was withholding industry-specific data."
According to David Scutt, Treasury Dealer at Arab Bank Australia, said: "Yet again the China data was leaked 2 minutes early, adding further credibility each and every release." Scutt added that "China PMI figure bucks what we've been seen elsewhere in Asia", so Scutt concludes by saying "make of it as you will."
According to Eamonn Sheridan from Forexlive: "It strains credibility to think the PMI expanded, and above last month’s result. And lets not forget, last month China said it was withholding industry-specific data."
According to David Scutt, Treasury Dealer at Arab Bank Australia, said: "Yet again the China data was leaked 2 minutes early, adding further credibility each and every release." Scutt added that "China PMI figure bucks what we've been seen elsewhere in Asia", so Scutt concludes by saying "make of it as you will."