China PMI at a 7-month high

FXstreet.com (Barcelona) - The Preliminary Chinese HSBC Manufacturing PMI (Oct) came at 50.9 vs 50.5 expected and 50.2 last. The data represents a seven-month high.

According to Hongbin Qu, Chief Economist China, Co-Head of Asian Economic Research at HSBC: "China's GDP recovery is becoming consolidated into Q4 following out in 3Q. This momentum is likely to continue in the coming months, creating
favorable conditions for speeding up structural reforms."