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Small dip expected in China's August Manufacturing PMI - ING

FXStreet (Łódź) - Tim Condon from ING believes that the tomorrow we will see a slight decline in the China's August PMI Manufacturing data, in line with the consensus projections of a drop from 51.7 to 51.5.

Key quotes

"The index has risen steadily from the March 2014 cyclical low of 48.0."

" The July increase (in both the official and HSBC/Markit manufacturing PMIs) was at odds with the deceleration in sequential industrial production growth."

"We think the divergence explains the consensus forecast of a small dip in the index."

"The July economic data raised hopes of a broad PBOC easing via an RRR or a policy interest rate cut."

"We remain of the view that macro policy fine tuning, including of the home purchase restrictions, will support 7.5% GDP growth and there will be no broad monetary easing."

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