Morning Bites

🌏Global manufacturing PMIs remained soft in September. The Eurozone Markit Manufacturing PMI stood at 45.0 (vs. the 45.8 seen in August). The US ISM manufacturing PMI was at 47.2 (slightly below market expectations of 47.5) and flat MoM

🇨🇳The official NBS Manufacturing PMI in China was at 49.8 in September (vs. 49.1 a month ago). Meanwhile, the Caixin China Manufacturing PMI slid to 49.3, missing the forecasts of 50.5

🇮🇳 Although India’s manufacturing PMI declined to 56.5 (also slightly below the consensus of 56.7), its indicator remains one of the strongest among the world's key economies

❗️In September, most global PMIs remained below 50.0, indicating an ongoing slowdown in regional (especially EU and US) manufacturing activity. However, India’s strong PMI data might partly offset the negative impact on demand for industrial metals (e.g. steel, aluminum and copper), we believe

#PMIs
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