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6 May 2015
China services PMI climbs to 4-month high – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team reviews the Chinese HSBC Services PMI data release, and notes that economists at HSBC expect further easing to halt the slowdown in Chinese economy.
Key Quotes
“Despite Shanghai and Hang Seng both reversed prior loss, economic data was mixed. China HSBC services PMI hit a 4-month high. HSBC chief economist noted China service sector companies had a strong start to Q2 but more measures may be required to ensure the economy does not slow further from the 7% annual pace of growth registered in Q1.”
“Hong Kong PMI continued second contraction and fell to 7-month low. HSBC economist stated Hong Kong's private sector saw a stronger deterioration in overall business conditions and likely to struggle to expand in Q2.”
Key Quotes
“Despite Shanghai and Hang Seng both reversed prior loss, economic data was mixed. China HSBC services PMI hit a 4-month high. HSBC chief economist noted China service sector companies had a strong start to Q2 but more measures may be required to ensure the economy does not slow further from the 7% annual pace of growth registered in Q1.”
“Hong Kong PMI continued second contraction and fell to 7-month low. HSBC economist stated Hong Kong's private sector saw a stronger deterioration in overall business conditions and likely to struggle to expand in Q2.”