China official PMI for April Manufacturing 50.8 (expected 51.0)

CHINA APRIL OFFICIAL SERVICES PMI RISES TO 53.2 VS MARCH 52.3

More to come...

Description

The Manufacturing Purchasing Managers Index (PMI) released by the China Federation of Logistics and Purchasing (CFLP) studies business conditions in the Chinese manufacturing sector. Any reading above 50 signals expansion, while a reading under 50 shows contraction. As the Chinese economy has influence on the global economy, this economic indicator would have an impact on the Forex market.