China's NBS Manufacturing PMI contracts to 49.5 in October vs. 50.2 expected
|China’s official Manufacturing Purchasing Managers' Index (PMI) unexpectedly contracted in October, arriving at 49.5 when compared to the 50.2 expansion in September, 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 October 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.
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.