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4 May 2015
China HSBC final PMI falls to 1-yr low – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team notes that the below consensus print of April final HSBC manufacturing PMI at 48.9 has bolstered expectations for further easing by the PBoC.
Key Quotes
“China April final HSBC manufacturing PMI posted 48.9, missing consensus of 49.4, as largest contraction for one year with total new orders declining at the strongest pace for a year while production levels stagnated. The weak results bolstered chances that PBoC to further ease monetary policy.”
“Separately, Chinese press printed opinion piece suggesting the window for both interest rates and RRR cuts is approaching but anther QE is unnecessary to deal with downturn pressure now.”
Key Quotes
“China April final HSBC manufacturing PMI posted 48.9, missing consensus of 49.4, as largest contraction for one year with total new orders declining at the strongest pace for a year while production levels stagnated. The weak results bolstered chances that PBoC to further ease monetary policy.”
“Separately, Chinese press printed opinion piece suggesting the window for both interest rates and RRR cuts is approaching but anther QE is unnecessary to deal with downturn pressure now.”