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1 Jul 2015
China HSBC Manufacturing PMI misses expectations in June
FXStreet (Bali) - China HSBC Manufacturing PMI came in at 49.4 in June, below expectations of 49.6. The data has barely moved the Australian Dollar, which continues to challenges session highs against its main peers in the Asian session.
Commenting on the China Manufacturing PMI™ survey, Annabel Fiddes, Economist at Markit said: “The final reading of the HSBC China Manufacturing PMI pointed to a further decline in the health of the manufacturing sector in June. This was predominantly driven by the sharpest rate of job shedding across the sector since early-2009, while output also fell slightly on the month."
"On the upside, there were some signs of improvement in the shape of renewed increases in total new orders and new export business, suggesting that client demand both at home and abroad is reviving. However, it is likely that more stimulus measures will be required to ensure that the sector can regain growth momentum and to encourage job creation.”
Commenting on the China Manufacturing PMI™ survey, Annabel Fiddes, Economist at Markit said: “The final reading of the HSBC China Manufacturing PMI pointed to a further decline in the health of the manufacturing sector in June. This was predominantly driven by the sharpest rate of job shedding across the sector since early-2009, while output also fell slightly on the month."
"On the upside, there were some signs of improvement in the shape of renewed increases in total new orders and new export business, suggesting that client demand both at home and abroad is reviving. However, it is likely that more stimulus measures will be required to ensure that the sector can regain growth momentum and to encourage job creation.”