China HSBC/Markit manufacturing PMI for November: 50.8 (vs. 50.5 expected)

• prior was 50.9
• the flash reading (released November 21) was 50.4

• new orders at an 8-month high
• Output and total new orders increase at fastest pace for 8 months

HSBC chief China economist Qu Hongbin:

“China’s manufacturing sector kept relatively steady growth momentum in November, as the final manufacturing PMI was revised up from the flash reading on the back of faster new business gains. However, the renewed contraction of employment and the slower pace of restocking activities call for a continuation of accommodative policy. The modest inflationary pressures leave room to do so.”

we had official manufacturing PMI on the weekend come in better than expected

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AUD trading higher on the release