{"id":14752,"date":"2010-11-01T14:11:20","date_gmt":"2010-11-01T18:11:20","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=14752"},"modified":"2010-11-01T14:11:20","modified_gmt":"2010-11-01T18:11:20","slug":"china-pmi-manufacturing-data-rises-in-october","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/11\/01\/china-pmi-manufacturing-data-rises-in-october\/","title":{"rendered":"China PMI Manufacturing Data rises in October"},"content":{"rendered":"<p><strong>By <a href=\"http:\/\/FxNewsChina.com\" target=\"_blank\">FxNewsChina<\/a> <\/strong>&#8211;\u00a0Chinese manufacturing data increased in October for third consecutive month, according to a government report released earlier today. China&#8217;s official purchasing managers index, released by the China Federation of Logistics and Purchasing, advanced from 53.8 in September to a score of 54.7 in October and shows China&#8217;s continuing manufacturing growth.<\/p>\n<p>A score above 50 in the PMI data indicates expanding growth while score below 50 signals a contraction in that area. The PMI manufacturing data surpassed economic forecasts that were expecting a 53.8 score for the month.<\/p>\n<p>HSBC, in conjunction with Markit, also released\u00a0<span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.markiteconomics.com\/MarkitFiles\/Pages\/ViewPressRelease.aspx?ID=7170\" target=\"_blank\">their purchasing managers index<\/a><\/span> today and showed that China&#8217;s manufacturing increased in October to 54.8 from a 52.9 score in September. The increasing PMI score marked one of the largest monthly advancements since April of 2004, according to the report.<\/p>\n<p>Hongbin Qu, Chief Economist, China &amp; Co-Head of Asian Economic Research at HSBC commented on the latest report: \u201cAnother upbeat reading for the HSBC China Manufacturing PMI suggests the strong growth momentum in domestic demand to warrant around 9% GDP growth in 4Q, despite the still soft increase in new exports orders. The jump in output prices reflects higher input costs amidst strong demand, which also heralds a higher CPI likely to reach its cyclical peak in October.\u201d<\/p>\n<p><strong>Data Summary:<\/strong><\/p>\n<p>Official China PMI: OCT &#8211; 54.7 vs. SEPT &#8211; 53.8, CONSENSUS &#8211; 53.8<\/p>\n<p>HSBC China PMI: OCT &#8211; 54.8 vs. SEPT &#8211; 52.9<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese manufacturing data increased in October for third consecutive month, according to a government report released earlier today. China&#8217;s official purchasing managers index, released by the China Federation of Logistics<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-14752","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=14752"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14752\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=14752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=14752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=14752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}