THIS NIGHT: PUBLICATION OF PMI OF CHINA!
Dear traders,
This night, at 03:00 on Thursday (Kiev) – China Federation of Logistics & Purchasing will publish the index of business activity in the manufacturing sector (PMI) of China for November. It is expected that this indicator will decrease moderately to 51.5 after 51.6 in October.
At 03:45 on Friday, the report by Caixin on the index of business activity in the manufacturing sector (PMI) of China will be published. Economists predict that this figure will grow by 0.1 points to 50.9.
The slowdown of China’s economic growth is one of the main risks to global economic growth, so a significant change in this data can cause investors’ fear.
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 third quarter, the Chinese economy grew by 6.8%, which is only slightly below the growth of 6.9% recorded in the second quarter.
Be aware of the main events, check your transactions in advance!
Have a nice evening!
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