THIS NIGHT: The index of business activity in the manufacturing sector in China!
Dear traders,
This night, at 04:00 (Kiyv), the All-China Association for Logistics and Procurement will publish the index of business activity in the manufacturing sector (PMI) of China for May. It is expected that this figure will not change compared to April and will amount to 51.4.
At 04:45 on Friday, the Caixin report on China’s PMI in the manufacturing sector will be published. This index is more relevant to medium-sized companies. Economists predict that this figure will increase by 0.2 points to 51.3.
The index of business activity (PMI) is a good indicator of economic conditions, and some economists even prefer to use this index instead of the value of GDP, which can be subject to temporary changes and is often revised.
If the value of this index exceeds 50, this indicates an economic growth in the manufacturing sector, and a value below 50 indicates an economic downturn.
In the first quarter, China’s economy grew year-on-year to 6.8%, thanks to a rebound in the industrial sector, steady performance in the property market and a significant increase in exports. (Investing.com)
Be attentive, the data on the country from the second (after the US) world economy on nominal GDP can influence the volatility of the market!
Have a good evening, Gentlemen!
We would like to remind you that you can always get acquainted with the upcoming news in the Economic Calendar, and in the Analytics section there are technical analysis, experts’ opinions and Trade signals!
Hotline +448 000 698 464