Bankinter | China’s PMIs slightly exceeded expectations. Manufacturing PMI: 49.7 versus 49.6 expected; Non-manufacturing PMI: 50.5 versus 49.6 expected; Composite PMI: 50.7 versus 50.4 previously.
Bankinter analysis team’s view: These figures point to a positive outlook in the short term, with industrial production growing month-on-month and demand rising for the first time in three months. However, in the medium term, the deterioration in employment and the end of the trade truce with the United States in mid-August could undermine confidence in the Chinese economy and jeopardise the implementation of new government stimulus measures.
