China Caixin manufacturing PMI (January): 51.0 (expected at 51.8)

Well under the expected, in at 51.0 for January (51.8 expected)

Markit with the "key points":

• January sees weaker increases in production and new orders


• Despite rebound in new export business


• Inflationary pressures soften slightly but remain sharp

Comment from Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group:

• Lower than the average level in the fourth quarter last year


• The sub-indices for output and new orders both weakened sharply from those in the preceding month


• While stocks of purchases and finished goods both slid into contraction territory


• Manufacturers appear to have become rather reluctant to restock


• Input prices and output charges continued to rise rapidly, but at slower rates than in the previous month


• The Chinese economy maintained stable growth in January. But the sub-indices showed that the current growth momentum may be hard to sustain. We must remain wary of downward pressures on the economy this year"
  

--

This private survey is of a different sample than the official survey, generally smaller firms. The internals of the report are concerning as pointed out:

• sub-indices for output and new orders both weakened sharply from those in the preceding month
  

--      

Earlier this week, official PMIs:

• China official January Manufacturing PMI: 51.3 (expected 51.2, prior 51.4)


• China data: January Non-manufacturing PMI: 54.6 (prior 54.5)

China Caixin manufacturing PMI (January): 51.0 (expected at 51.8)
China Caixin manufacturing PMI (January): 51.0 (expected at 51.8)
http://www.forexlive.com/feed/news
$inline_image !!! CLICK HERE TO READ MORE !!! China Caixin manufacturing PMI (January): 51.0 (expected at 51.8) Forex Blog | Free Forex Tips | Forex News http://www.forextutor.net/china-caixin-manufacturing-pmi-january-51-0-expected-at-51-8/