China’s official PMI slows its descent

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China released its official PMI yesterday and the result was not so great. The headline number showed continued expansion at 50.2, down 0.2 on the month, a decelerating decline.

However the internals are not so good with real weakness in new orders, especially exports. There is some encouragement in the slowing but the trend in the global economy is still down.

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.