The source of Manufacturing Purchasing Managers' Index (PMI) Data is China Federation of Logistics and Purchasing (CFLP).
It is based on surveyed purchasing managers in the manufacturing industry.
Every month they Survey around 3000 purchasing managers which asks respondents to rate the relative level of business conditions
including production, employment, prices, new orders, inventories and supplier deliveries.
Releasing Date of the China Manufacturing data is every month on the first day after the month ends.
If manufacturing data is Above 50.0 indicates industry expansion, below indicates contraction.
Tends to have more impact when it's released ahead of the HSBC Manufacturing PMI because the reports
are tightly correlated. Chinese data can have a broad impact on the currency markets due to China's
influence on the global economy and investor sentiment.
China Manufacturing data is a leading indicator of economic health, Their businesses react quickly to market conditions,
and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.
Impact: It is Manusfacturing Data so it is very important for Base metals Sector like copper, zinc, lead, nickel, aluminium and crude oil.
Trader must aware about the actual data. Trader must trade accordinly the actual data. If data comes below 50.0 it is not good sign so short (Vice-versa).
This Week data came above 50.1 which is better than previous data 49.8 and it is also better than forecast which was 49.7.
Note: According to data it is supportive for Base metals this week.
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