China’s manufacturing PMI published by Caixin / Markit Economics, amounted to 50.1 points, which coincided with the forecast of economists, but was higher than the previous value of 50.0. Values above 50 indicates growth, while falling below this level indicates contraction. As China’s economy is one of the largest in the world, this indicator can have a strong impact on the Forex market.
From Caixin / Markit Economics report:
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Domestic and export orders show only a slight improvement
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The growth in September was the most insignificant in the last three months
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New orders also continued to show moderate growth, after nine months of contraction
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About 8% of the companies surveyed reported a decrease in the number of staff, resulting in lower costs.
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