China's Manufacturing PMI rose to 49.8

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Friday, Jan 23 2015

Flash China Manufacturing PMI rose to 49.8 in January from 49.6 in December what is a two-month high. Analysts were not expecting any change. However, index still remains in the area signalling contraction. Domestic demand improved marginally while external demand remained solid.

The labour market weakened and prices fell further. Today's data suggest that the manufacturing slowdown is still ongoing amidst weak domestic demand. More monetary and fiscal easing measures will be needed to support growth in the coming months.

Data brought decline to Aussie, which is currently being traded below 0.80 handle. Later today, in the US session Manufacturing PMI and Existing Hone Sales figures are scheduled for release.

More in this category: « ECB announced an expanded asset-purchase program France Manufacturing PMI at an 8-month high »

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