China HSBC/Markit Flash manufacturing PMI for August: 50.3 (vs. expected 51.5) via ForexLive

CHINA HSBC/Markit Flash manufacturing PMI for August: 50.3 (I sent the result out on Twitter already, make sure you're following @ForexLive)

• expected is 51.5
• prior was 51.7

• 3-month low

Commenting on the Flash China Manufacturing PMI survey, Hongbin Qu, Chief Economist, China & CoHead of Asian Economic Research at HSBC said:

• “The HSBC Flash China Manufacturing PMI moderated to 50.3 in August, down from 51.7 in July.
• Both domestic and external new orders rose at slower rates compared to the previous month.
• Meanwhile, disinflationary pressure returned as input and output prices contracted over the month.
• Today's data suggest that the economic recovery is still continuing but its momentum has slowed again.
• Therefore, industrial demand and investment activity growth will likely stay on a relatively subdued path.
• We think more policy support is needed to help consolidate the recovery.
• Both monetary and fiscal policy should remain accommodative until there is a more sustained rebound in economic activity.”

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The AUD was marked lower immediately after it was “looking a wee bit sick” in the minutes leading up to this data release.

Nothing suss (You might think that, I couldn't possibly comment)

posted via ForexLive