A heads up for data coming from China over the weekend - services PMI

On Saturday, 8 October 2022 at 014 GMT the Caixin Services PMI for September will be released.

• prior 55

China's economy has been held back by, amongst other things (property sector collapse, power shortages), the ongoing rolling COVID outbreaks and associated restrictions. However, these eased back a little in September, so that is some encouraging news. But the PMIs have not been impressive so far:

• China official PMIs for September: Manufacturing 49.6 (expected 50.1) (Non-manufacturing did improve to 53.2)

• China Caixin / Markit Manufacturing PMI for September 48.1 (expected 49.5, prior 49.5)

The Caixin services PMI release has been delayed due to the Golden Week holidays, but will be out on Saturday.