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1 Nov 2013
Flash: A day of PMI’s - BBH
FXstreet.com (London) - Research teams at BBH gave a brief review of the other October manufacturing PMI readings released today.
Key Quotes:
“UK’s reading was on the weaker side, falling slightly to 56.0 (expected at 56.4). The PMI for Ireland rose sharply to 54.9 from 52.7, while the Greek reading was roughly stable at 47.3”.
“The rest of the euro zone PMIs will be reported on Monday. In Switzerland, the PMI disappointed at 54.2 (expected at 55.2). Czech PMI increased to 54.5 from 53.4 in September, while that for Russia rose sharply to 51.8 from 49.4 in September”.
“In China, the official PMI rose slightly to 51.4 (expected at 51.2), same with the HSBC PMI, which ticked higher to 50.9 (expected at 50.7). Despite the positive headlines from both readings in China, we note that the new orders readings declined, suggesting lower demand ahead”.
Key Quotes:
“UK’s reading was on the weaker side, falling slightly to 56.0 (expected at 56.4). The PMI for Ireland rose sharply to 54.9 from 52.7, while the Greek reading was roughly stable at 47.3”.
“The rest of the euro zone PMIs will be reported on Monday. In Switzerland, the PMI disappointed at 54.2 (expected at 55.2). Czech PMI increased to 54.5 from 53.4 in September, while that for Russia rose sharply to 51.8 from 49.4 in September”.
“In China, the official PMI rose slightly to 51.4 (expected at 51.2), same with the HSBC PMI, which ticked higher to 50.9 (expected at 50.7). Despite the positive headlines from both readings in China, we note that the new orders readings declined, suggesting lower demand ahead”.