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Chinese PMI surprised to the downside – Danske Bank

FXStreet (Edinburgh) - Chief Analyst at Danske Bank Kasper Kirkegaard assesses the recent release of the Chinese services PMI.

Key Quotes

“The HSBC China service PMI, released overnight, fell to 50 in July - the lowest level since the survey began”.

“This will likely add to the uncertainty about whether the government’s stimulus measures are failing to gain traction outside of manufacturing and whether the slowdown of the property market in many cities is holding back consumers”.

Italy Markit Services PMI registered at 52.8, below expectations (54) in June

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France Markit Services PMI meets forecasts (50.4) in July

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