China's NBS Manufacturing PMI contracts to 49.5 in September vs. 50.2 expected

Market news

31 October 2023

China's NBS Manufacturing PMI contracts to 49.5 in September vs. 50.2 expected

China’s official Manufacturing Purchasing Managers' Index (PMI) unexpectedly contracted in September, arriving at 49.5 when compared to the 50.2 expansion in July, the latest data published by the country’s National Bureau of Statistics (NBS) showed on Tuesday. The market consensus was for a 50.2 figure.

The index dropped back below the 50 mark, which separates expansion from contraction.

The NBS Services PMI declined to 50.6 in September versus the expected 51.8 figure and 51.7 previous.

AUD/USD reaction to China's PMI data

The downbeat Chinese PMIs weigh on the Australian Dollar, with AUD/USD testing lows near 0.6360. The spot is down 0.13% on the day.

Australian Dollar maintains its position above the major level post recent gains

China NBS Non-Manufacturing PMI registered at 50.6, below expectations (51.8) in September

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