The National Bureau of Statistics of China has published official data on PMI index (Purchasing Managers’ Index) in May 2016. “According to the published data, the index has amounted to 50.1 points for accounting period, having thus slightly exceeded market expectations,” state experts of Masterforex-V Academy.
Analysts’ Predictions Fail
Statistical data has shown that in May 2016 Purchasing Managers Index (PMI) of processing industry has remained the same, without any changes.
It is worth mentioning that the index keeps staying above the mark of 50 points for three months already. Let us remind that the result of above 50 points signals about growth of activity in the sector, below – about decline.
The analysts, questioned by the Wall Street Journal, predicted the index to amount slightly below 49.9 points.
Slowdown of Non-manufacturing Sector in PRC
Similar statistical data on Purchasing Managers Index published by Markit and Caixin show reduction in May 2016 to 49.2 points in comparison to 49.4 points this April. According to this statistics, the index remains below 50 points for over twelve months.
Official statistical data on PMI of Chinese non-manufacturing sector has shown negative dynamics. In May the index has dropped to 53.1 points in comparison to April result of 53.5 points.
As of May 03, yuan is traded in short-/mid-term correction to a long-term uptrend, which started in April, and amounts to 6.5648 yuan per US dollar. “Closest significant resistance – maximal point of January – 6.5967 – has not been broken yet,” explain experts of Masterforex-V Trading System . Closest support is provided by sloping channel MF and pivot MF 6.4621.
