HSBC China PMI has gone back above 50 for the first time in several months.
You can download the full report here, but the basic gist is that the reading of 50.4 is 13-month high. Output hit a 13-month high as well.
Thanksgiving will have to wait.
At 8:45 PM tonight, we will get the November HSBC Flash PMI report for China’s manufacturing industry.
In October, the HSBC PMI climbed to 49.5, an 8-month high.
However, any reading below 50 reflects a contraction in the industry.
Lately, people have been talking a lot about economic green shoots that have been budding in China.
“We expect the flash reading of China’s HSBC manufacturing PMI to rise further in November, possibly back above 50,” write the analysts at Societe Generale.
China is the world’s second largest economy, and it is the world’s most important source of growth.
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