China - Caixin / Markit Manufacturing PMI for October 51.0
expected 51.0, prior 51.0
Apologies for the delay - some technical gremlins here
Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group:
- "The Caixin China General Manufacturing PMI was 51.0 in October, unchanged from September and remaining in expansionary territory.
- The sub-index for output fell for the third straight month in October and was weaker than the average seen over the first 10 months of the year, even though growth in new orders picked up.
- The sub-indices for input costs and output prices both moderated from the previous month but remained at rather high levels.
- Stocks of finished goods and stocks of purchases lingered in contraction territory, although their paces of decline eased moderately from September.
- China's manufacturing sector expanded steadily in October. But the stringent production curbs imposed by the government to reduce pollution and relatively low inventory levels have added to cost pressures on companies in midstream and downstream industries, which could have a negative impact on production in the coming months."
Bolding above is mine. A steady result but some cautionary signs in there for the months ahead. The month's (and perhaps the next year or so) will likely be a time of 'reform' over stimulus for China.
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Earlier in the week we got the official manufacturing (and non-manufacturing) PMI out of China
