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1 Aug 2014
Final HSBC China PMI slightly lower than flash estimate
FXStreet (Bali) - The final HSBC manufacturing PMI in China came at 51.7 vs 52 exp and 50.7 last. Commenting on the Flash China Manufacturing PMI survey, Hongbin Qu, Chief Economist China, Head of Asian Economic Research at HSBC, said:
"The HSBC China Manufacturing PMI rose to 51.7 in the final reading for July, the highest since early 2013. This is slightly lower than the flash reading released earlier, as several sub-indices saw small downward revisions."
"Nevertheless, the economy is improving sequentially and registered across-the-board improvement compared to June."
"Policy makers are continuing with targeted easing in recent weeks and we expect the cumulative impact of these measures to filter through in the next few months and help consolidate the recovery.”
"The HSBC China Manufacturing PMI rose to 51.7 in the final reading for July, the highest since early 2013. This is slightly lower than the flash reading released earlier, as several sub-indices saw small downward revisions."
"Nevertheless, the economy is improving sequentially and registered across-the-board improvement compared to June."
"Policy makers are continuing with targeted easing in recent weeks and we expect the cumulative impact of these measures to filter through in the next few months and help consolidate the recovery.”