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Analysts at ANZ explained that China’s official manufacturing PMI was unchanged
at 49.8 in October (mkt: 50.0).
Key Quotes:
"It
appears that the manufacturing activity is stabilising, albeit still in
contractionary territory. The indicator has remained below 50 for three straight
months.
While the PMI has stabilised, it is too early to confirm a
bottoming out. However, expansionary fiscal policy and further monetary policy
easing should help engineer a modest rebound in Q4 and Q1 2016."