China's official September PMIs are due over the weekend – expected to improve

<p>ICYMI, China is out on holiday today and all of next week. If you've been waiting on the People's Bank of China CNY reference rate I probably should have mentioned this earlier – none today or next week. </p><p>We will be getting the National Bureau of Statistics (NBS) official PMIs on Saturday though:</p><p>As you can see, improvement is expected. Via ING:</p><ul><li>manufacturing activity contracted for five consecutive months between March and August</li><li>

Recently released data on Chinese industrial profits showed a rise after five consecutive contractions, which might signal that the economy has stabilised to a certain extent.
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We believe that the official manufacturing PMI for September will show a slight expansion reading of 50.2. With the improvement in recent activity data including retail sales, the non-manufacturing PMI may also increase slightly to 51.3.</li></ul><p>Improvement will be very welcome indeed. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.