China: Focus shifts on manufacturing PMI – Wells Fargo

Analysts at Wells Fargo explain that manufacturing activity in China has held steady over the past several months as shown by the manufacturing PMI.

Key Quotes

“In the October reading, the index printed 51.6, down from 52.4 in September. On Wednesday, markets are going to take a look at the November reading. This is the manufacturing PMI that includes large, normally state-owned enterprises.”

“The services PMI is also going to be released on Wednesday. The index was at 54.3 in October after hitting 55.4 in September.”  

“Meanwhile, the Caixin manufacturing PMI, which includes small and medium-sized manufacturing firms that are typically not covered by the official manufacturing PMI will hit the newswires on Thursday. After hitting a series high of 51.9 in December of last year, the index remained at 51.0 in September and October.”