Latest data released by Markit - 4 May 2018
- Prior 52.3
- Composite PMI 52.3 vs 51.8 prior
A beat on both fronts for Chinese figures, that should at least provide some reprieve for equities. At the same time, it does the aussie no harm after the slightly more upbeat RBA statement on monetary policy earlier.
Comments by Dr. Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group on the data:
"The new business and employment indices both rose, indicating strengthening demand across the service sector after easing for two consecutive months. However, input prices increased at a slower pace, leading to a softer rise in prices charged. The index of business expectations, a gauge of service providers' confidence towards the 12-month outlook for activity, improved slightly, reflecting companies' optimism about their business prospects."
