China's HSBC flash PMI inched higher to 49.1
Thanks to production's and new orders sub-indexes' improvements.
According to BBVA Research, consistent with last week’s September activity indicators showing an improvement in underlying growth trends, China’s Markit/HSBC Flash PMI estimate for October increased to 49.1 from September’s outturn of 47.9 (the official PMI outturn in September was 49.8).
Here's more from BBVA Research:
Both the production and new orders sub-indexes improved, although they remained below the 50 expansion/contraction threshold.
We now await the release of the official PMI and the final Markit/HSBC PMI on November 1 - the latter (private) PMI estimate has been running consistently below the former in recent months, as it contains a larger share of smaller and more export-oriented companies, which are bearing the brunt of the external slowdown.