2 Dec 2013
China's HSBC PMI revised higher
FXstreet.com (Barcelona) - China's HSBC Manufacturing PMI (final reading) came at 50.8 vs 50.5 exp and 50.9 last, which represent an upward revision from the earlier flash reading, and little-changed from 50.9 October. The reading is the second-highest in eight months.
Commenting on the China Manufacturing PMI™ survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “China’s manufacturing sector kept relatively steady growth momentum in November, as the final manufacturing PMI was revised up from the flash reading on the back of faster new business gains."
"However, the renewed contraction of employment and the slower pace of restocking activities call for a continuation of accommodative policy. The modest inflationary pressures leave room to do so" Qu added.
Commenting on the China Manufacturing PMI™ survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “China’s manufacturing sector kept relatively steady growth momentum in November, as the final manufacturing PMI was revised up from the flash reading on the back of faster new business gains."
"However, the renewed contraction of employment and the slower pace of restocking activities call for a continuation of accommodative policy. The modest inflationary pressures leave room to do so" Qu added.