From Markit Economics:

  • Operating conditions & production levels in the Chinese manufacturing sector have now improved for five consecutive months
  • Total new orders rose, for the sixth month in a row.
  • “A number of respondents attributed growth to strengthened client demand”
  • New export orders also increased, “albeit marginally”

This is a reasonably good result and has lent a better bid to AUD, which had been sold off a little after the earlier ‘official’ manufacturing PMI result was a little weaker than expected.