Data from the NBS in China for the April 2019 Manufacturing PMI

Comes in a miss, 50.1

  • expected 50.5, prior 50.5

So, the first indicator for the second quarter of 2019 comes in at a miss. AUD marked lower.

Details … it was only output prices higher in the month, new export orders also

Output 52.1

  • compared with March result: 52.7

New Orders 51.4

  • compared with March result: 51.6

New Export Orders 49.2 ………………………… maybe a bright spot?

  • compared with March result: 47.1

Order Backlog 44.0

  • compared with March result: 46.4

Finished Goods Inventories 46.5

  • compared with March result: 47.0

Input Prices 53.1

  • compared with March result: 53.5

Output Prices 52.0

  • compared with March result: 51.4

Employment 47.2

  • compared with March result: 47.6