News
🚨 🇨🇳 China's official PMIs slip into contraction: manufacturing 49.3, services 49.7
🚨 🇨🇳 China's official PMIs slip into contraction: manufacturing 49.3, services 49.7
- 🇨🇳 The official NBS manufacturing PMI fell to 49.3 in October, below the 50.0 expected and down from 50.1 in September, back under the 50 line that separates growth from contraction (NBS via newswires, )
- 🇨🇳 The non-manufacturing PMI dropped to 49.7 against 50.5 expected and 50.2 before, and the composite also printed 49.7, down from 50.7
FO view: Both official surveys missing and dipping below 50 adds a China growth worry to a week already dominated by the tech rout and Hormuz supply risk, and raises the odds of more Beijing stimulus.
Not investment advice.