China's NBS Manufacturing PMI contracts further to 49.4 in November vs. 49.7 expected

Dhwani Mehta FXStreet

China’s official Manufacturing Purchasing Managers' Index (PMI) contraction deepened in November, coming in at 49.4 as against the 49.5 contraction registered in October, the latest data published by the country’s National Bureau of Statistics (NBS) showed on Thursday. Markets expected a 49.7 readout in the reported month.

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

The NBS Non-Manufacturing PMI dropped to 50.2 in November versus the expected 51.1 figure and October’s 50.6 figure.

AUD/USD reaction to China's PMI data

The downbeat Chinese PMIs is serving a negative impact on the Australian Dollar, with AUD/USD holding lower ground near 0.6620. The spot is up 0.05% on the day.

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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