China: Services PMI posts strong reading in November – TDS
|Analysts at TD Securities note that China’s Caixin services PMI rose to 53.5 (mkt 51.2) in November from 51.1 in October, marking its highest reading since April and echoes the better than forecast manufacturing PMIs.
Key Quotes
“Taken together, this resulted in the composite PMI rising to 53.2 from 52.0 previously. The details revealed a slight fall in the employment component to 51 from 51.1 previously. Overall good news, highlighting that China's service sector continues to expand. However, it is doubtful that this will outweigh the impact of the steady drumbeat of negative trade news, leaving CNH on the backfoot.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.