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China's October HSBC Manufacturing PMI at 50.4, as expected - TD Securities

FXStreet (Łódź) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities comments on China's HSBC Manufacturing PMI numbers for October, which came in at 50.4, in line with forecasts.

Key quotes

"Elevated Q3 averages for headline official and HSBC PMIs (and the sub-indices) did not foreshadow that GDP growth would actually decelerate from 7.5% to 7.3%/yr."

"If the soft October is taken at face value, Q4 GDP can be expected to ease further to around 7.1%/yr."

"If that is the case, 2014 GDP average would be 7.3%/yr, enough of a downside miss to the government’s target of 7.5%. Expect demands for more stimulus to grow louder."

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