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Small bounce in China's September Manufacturing PMI expected - ING

FXStreet (Łódź) - Tim Condon from ING believes that China's NBS Manufacturing PMI will show a slight increase in September, in contrast with the consensus forecast of a slide to 51.0 from 51.1.

Key quotes

"We consider the consensus forecast too bearish. The index has never contracted in September; the average increase has been 1.6 points."

"We expect increased monetary accommodation in August, evident in lower interbank interest rates, to produce a small bounce in the official manufacturing PMI."

"The bounce we thought was evident in the flash HSBC manufacturing PMI, to 50.5 from 50.2, turns out to have illusory; the final print was revised to 50.2 data released today showed."

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