HERE COMES CHINA'S OFFICIAL PMI REPORT...
Economists are looking for a reading of 51.2, up from 51.1 in September.
Any reading above 50 signals growth.
Societe Generale's Wei Yao is not as optimistic as the rest of the Street.
"We expect China's official manufacturing PMI to weaken to 50.8 in October after reaching a 17-month high of 51.1 in September," she said.
"The official PMI disappointed the market in September moving up by only one notch from 51 to 51.1," added Yao. "Nearly all the activity released afterwards showed yoy growth deceleration, including exports, industrial production, fixed asset investment and retail sales."
Here's a breakdown of the September report.
|New Export Orders||50.7|
|Backlogs of Work||46.2|
|Inventories of Finished Goods||47.4|
|Inventories of Raw Materials||48.5|
|Supplier Delivery Times||50.8|
|Business Activity Expecation||58.4|
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