Commerzbank: Resilient China PMIs Allow PBoC to Stay Patient

Commerzbank’s Dr. Henry Hao commented on China's latest PMI data, stating that the resilient readings in both manufacturing and non-manufacturing sectors suggest the economy is not weak enough to warrant immediate broad-based easing by the People’s Bank of China (PBoC).

While domestic demand indicators remain soft, the PMIs provide room for the central bank to maintain a patient stance. The analysis implies the PBoC is unlikely to rush into aggressive stimulus measures in the near term.