OctaFX | OctaFX Forex Broker
Open trading account
Back

APAC: Growth momentum clearly on the downside - RBS

FXStreet (Delhi) – Research Team at RBS, note that growth momentum in the PAC region is clearly on the downside with contraction in Chinese manufacturing activity and fall in Bank of Japan’s quarterly Tankan survey.

Key Quotes

“Chinese manufacturing activity contracted for the second consecutive month in September, as Official Manufacturing PMI came in at 49.8 last month (Consensus 49.7), after a reading of 49.7 in August. While the Non¬manufacturing PMI stayed steady at 53.4 in September. (Bloomberg) China has halved its sales tax on small cars in an effort to boost sagging demand, as the country’s economy continues to slow. (FT)”

“Bank of Japan’s quarterly Tankan survey showed that index for large manufacturers fell to 12 in September (Consensus 13) from 15 in June, as weakness in the Japanese economy and the slowdown in Asia chipped away at the nation’s business confidence. (Bloomberg) Bank of Japan should ease monetary policy further in October but doing so at its meeting next week would be difficult, a ruling party lawmaker and one of the architects of Mr Shinzo Abe's economic policy strategy Kozo Yamamoto said. (Reuters)”

Italy Markit Manufacturing PMI below expectations (53.3) in September: Actual (52.7)

Italy Markit Manufacturing PMI below expectations (53.3) in September: Actual (52.7)
Read more Previous

France Markit Manufacturing PMI above forecasts (50.4) in September: Actual (50.6)

France Markit Manufacturing PMI above forecasts (50.4) in September: Actual (50.6)
Read more Next
Start livechat