China’s NBS Manufacturing PMI beats estimates with 51.5 in September

Dhwani Mehta FXStreet

China’s official manufacturing Purchasing Manager’s Index (PMI) accelerated to 51.5 in September from August’s 51.0 while beating the consensus forecast of 51.2.

Meanwhile, the official services Purchasing Manager’s Index (PMI) jumped to 55.9 in September vs. 52.1 expected and 55.2 last.

The private Caixin manufacturing PMI will also be published in an hour’s time. Analysts polled by Reuters expect a reading of 53.1, the same as in August.

Market reaction

AUD/USD shrugged-off the above forecasts Chinese PMIs, keeping its range below the five-day highs of 0.7150.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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