Chinese manufacturing rebounds during May; PMI prints highest number for 2014
The Week In Hindsight, 02 June 2014
Chinese manufacturing rebounded during May, according to PMI data released on Monday morning. The survey indicated activity within the sector reached its highest level for 2014 so far, which may prompt some investors and traders to scale back their expectations of PBOC intervention over the coming months, leading to lower levels in the SSE Index over the coming days.
This morning’s release followed a quiet week in the economic data calendar for CNY markets however, the coming days see May’s Non-Manufacturing, HSBC Final Manufacturing and HSBC Services PMI figures released to investors.
While expectations are positive for many of the economic barometers due to print figures this week and although the improvement in Manufacturing conditions is positive for the Chinese economy, challenges still remain.
Overall we expect, like many others, that the Chinese economy will continue to grow faster than other developed and emerging markets; growth is still likely to be weaker than in previous years and for this reason the recent numbers must be regarded with caution.
SSE Index
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