China non-manufacturing PMI growth slides

Monday, 3 November 2014

And it’s a procession of negatives today, with the Chinese non-manufacturing PMI out and sliding to its lowest print since January at 53.8 from 54 in September:

Remember that this PMI is more important to Australia than the manufacturing reading that everyone follows because it includes such activities as construction and mining.

China is slowing structurally and cyclically right now.

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.