In China, the NBS Comprehensive Purchasing Manager Index measures the performance of the manufacturing and non-manufacturing sectors. A reading above 50 indicates an expansion of the overall economic trend compared to the previous month; below 50 represents a contraction; while 50 indicates no change.
A higher than expected figure should be seen as positive (bullish) for the CNY while a lower than expected figure should be seen as negative (bearish) for the CNY.