The newly named Caixin China Flash PMI is out and has missed badly to the downside:
Flash China General Manufacturing PMI™ at 48.2 in July (49.4 in June). 15-month low.
Flash China General Manufacturing Output Index at 47.3 in July (49.7 in June).
16-month low. Data collected 13–22 July 2015.
The Caixin Flash China General Manufacturing Purchasing Managers’ Index™ (PMI™) is published on a monthly basis ahead of final PMI data, making the Caixin PMI the earliest available indicator of manufacturing sector operating conditions in China. The estimate is typically based on approximately 85%–90% of total PMI survey responses each month and is designed to provide an accurate indication of the final PMI data. July final PMI data will be released on 3 August 2015.
Expected was 49.7. The internals are not flash at all:
The declining trend is intact:
Alarms just went off.
