China: Caixin Manufacturing PMI below expectations - TDS

The research team at TDS points out that China’s Caixin April Manufacturing PMI also missed consensus at 50.3 (mkt: 51.3, prior 51.2), after the official manufacturing PMI missed on Sunday at 51.2 (mkt 51.7, prior 51.8). 

Key Quotes

“Taking a step back, we should not forget that Q1 GDP was "stronger" at 6.9% so an easing of the PMIs means slightly lower GDP growth from there, which is widely expected.  The government target for this year is 6.5% "or better" so these PMIs remain consistent with that target.”