China flash PMI fugly

Thursday, 20 February 2014

The China Flash PMI is out for February and it’s poor:

Flash China Manufacturing PMI™ at 48.3 in February (49.5 in January). Seven-month low.
Flash China Manufacturing Output Index at 49.2 in February (50.8 in January). Seven-month low.

The internals are deteriorating:

One little upside in new export orders otherwise look out below. Australian dollar dumped 0.6 of cent to 89.5…

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.