CHINA HSBC OCT FLASH MANUFACTURING PMI: 50.4 V 50.2E (3-month high) - Output index 50.7 v 51.3 prior (5-month low)
- HSBC Chief Economist Qu Hongbin: "The HSBC China Manufacturing PMI improved to 50.4 in the flash reading for October, up from 50.2 in the final reading for September. Domestic as well as external demand showed some signs of slowing although both remained in expansion territory. Disinflationary pressures intensified, as both the input and output price indices declined further. Meanwhile both employment and inventory indices improved. While the manufacturing sector likely stabilized in October, the economy continues to show signs of insufficient effective demand. This warrants further policy easing and we expect more easing measures on both the monetary as well as fiscal fronts in the months ahead."
Components:
- Output Increase, slower rate
- New Orders Increase, slower rate
- New Export Orders Increase, slower rate
- Employment Decrease, slower rate
- Backlogs of Work Increase, slower rate
- Output Prices Decrease, faster rate
- Input Prices Decrease, faster rate
- Stocks of Purchases Decrease, faster rate
- Stocks of Finished Goods Increase, from decrease
- Quantity of Purchases Increase, slower rate
- Suppliers Delivery Times Lengthening, faster rate