Time to get a grip. Despite China’s weaker than expected manufacturing data for October which is fanning concerns about the country’s slowing growth, analysts say the data suggests that the economy remains very much in policymakers’ control and is headed for a soft landing, according to CNBC.
The official Purchasing and Manufacturing Index (PMI), which gathers information from the country’s biggest manufacturers, came in at 50.4 for October, missing markets’ forecast of 51.6 and dipping from September’s reading of 51.2.
"We're definitely of the view that China is successfully engineering a soft landing, at the moment, given IPs (industrial production) still running at above 13-14 percent, and the fact that the PMI [is] returning back to a positive, above 50 territory. We do think that actual risks of China heading towards a hard landing are limited," Donna Kwok, Greater China Economist at HSBC told CNBC on Tuesday….
Read more at http://www.cnbc.com/id/45113334
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