This is a 3 month low, but of course still in expansion.
- Prior was 50.8
Hongbin Qu, Chief Economist, China & Co – Head of Asian Economic Research at HSBC said:
“ The December HSBC Flash China Manufacturing PMI reading slowed marginally from November’s final reading. But it still stands above the average reading for 3Q, implying that the recovering trend of the manufacturing sector starting from July still holds up. As a result, we expect China’s GDP growth to stabilise at around 7.8% yoy in 4Q .”
Preview here (including graph of past results)
AUD getting marked a little lower on the release, after drifting off in the hour or so preceding the data. AUD/JPY sellers this morning, and EUR/AUD buyers have weighed on the AUD.New orders and new export orders are both up, which is a positive sign.
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The final result for December will be released on Thursday January 2 (at 0145GMT)
