Purchasing Managers' Index data from China's National Bureau of Statistics published on Saturday.
Manufacturing 49.5
- expected 49.6, prior 49.7
- in contraction for the fourth consecutive month
- trade wars and slower domestic demand persistent negatives
- Xinhua (state media in China) report the NBS saying "demand moderated amid a complex economic environment"
Services 53.8
- expected 53.7, prior 53.7
- first improvement for this for five months and at odds with domestic demand pressures seen reflected in the manufacturing PMI
Composite 53.0
- prior 53.1
So, a bit of a mix here. Services holding up.
The privately surveyed PMIs (Caixin/Markit) will be published from Monday (the manufacturing PMI is Monday, services and composite follow on Wednesday).
