China’s 2nd Manufacturing PMI for November is due soon – preview | Forexlive
Yesterday we had the offcial PMIs from China for November, from the NBS survey:
- China official Manufacturing PMI 48.0 (expected 49.0) & Services 46.7 (expected 48.0)
- More on China’s Nov. PMI plunge into deep contraction for both manufacturing and services
Today, at 0145 GMT we get the privately surveyed, and thus unofficial, PMIs from Markit/Caixin. This is a different survey. There is a greater representation of large and SEO firms in the official PMIs than in the Caixin / Markit PMI.
Via ING, preview:
- The Caixin manufacturing PMI should indicate that the activity of smaller manufacturers contracted further in November compared to a month ago. Rising Covid cases, together with shrinking exports, added pressure on exporters.
Looking ahead from ING:
- Local government officials will likely exercise Covid measures with an intent to reduce their impact on the economy even if there are no further imminent changes in the overall Covid rules.