Chinese Manufacturing PMI Data Slightly Better than Expected – What Lies Ahead for China?
Today saw China post key Manufacturing PMI and Non ManufacturingPMi data.
Numbers were slightly better than expected. Non manufacturing PMI came in at 54.4, while analysts forecast 53.49, while Manufacturing PMI came in bang on the money, meeting analysts expectations of 49.7.
This is likely to have negligible effects on the market at open. More important export and import data will be released on Friday, with greater potential to move markets.
China posted 6.9% overall growth for the year in 2015 with GDP growing 1.8% in the final quarter. Unemployment is steady at 4.5% with a 1.5% inflation rate.
With concerns of a slowing China playing on the world economy in general and several shocks to the market throughout 2015, 2016 will likely be a tame year compared to previous ones in Beijing. Growth is still likely to top %5, however, making China one of the best-performing economies in the world.
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