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21 Mar 2013
HSBC PMI in China at 51.7, two month high
FXstreet.com (Barcelona) - The HSBC Flash China Manufacturing Purchasing Managers’ Index came better-than-expected at 51.7 in March vs 50.4 in February, a two-month high. Flash China Manufacturing Output Index stood at 52.8 vs 50.8 in February, also a two-month high, overall a pretty solid read giving the Australian Dollar a temporary boost.
Hongbin Qu, Chief Economist, China & CoHead of Asian Economic Research at HSBC said: “March flash manufacturing PMI rebounded to 51.7 on the back of stronger new orders and production growth. This implies that the Chinese economy is still on track for gradual growth recovery. Inflation remains well behaved, leaving room for Beijing to keep policy relatively accommodative in a bid to sustain growth recovery.”
Hongbin Qu, Chief Economist, China & CoHead of Asian Economic Research at HSBC said: “March flash manufacturing PMI rebounded to 51.7 on the back of stronger new orders and production growth. This implies that the Chinese economy is still on track for gradual growth recovery. Inflation remains well behaved, leaving room for Beijing to keep policy relatively accommodative in a bid to sustain growth recovery.”