China’s official Manufacturing Purchasing Managers’ Index (PMI) unexpectedly contracted in October, arriving at 49.5 when compared to the 50.2 expansion in September, the latest data published by the country’s National Bureau of Statistics (NBS) showed on Tuesday. The market consensus was for a 50.2 figure.
The index dropped back below the 50 mark, which separates expansion from contraction.
The NBS Services PMI declined to 50.6 in October versus the expected 5src.8 figure and 5src.7 previous.
AUD/USD reaction to China’s PMI data
The downbeat Chinese PMIs weigh on the Australian Dollar, with AUD/USD testing lows near 0.6360. The spot is down 0.src3% on the day.
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