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China: PMI reading falls to lowest since August 2012 – Deutsche Bank

FXStreet (Delhi) – Jim Reid, Research Analyst at Deutsche Bank, notes that the Chinese November PMI numbers sent some mixed messages in the data, with the official reading falling 0.2pts to 49.6 (vs. 49.8 expected) which is the lowest since August 2012.

Key Quotes

“This compares to a modest rise in the non-official Caixin reading, which was up 0.3pts to 48.6 (vs. 48.3 expected), albeit also in negative territory. Meanwhile and highlighting the divergence between sectors, China’s non-manufacturing PMI climbed 0.5pts to 53.6 – the highest level since July. Chinese bourses were initially weaker post the data but have rebounded for modest gains post the midday break.”

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