China Flash PMI up in January

The good news keeps rolling today with China’s January Flash PMI posting a solid gain:

Flash China Manufacturing PMI™ at 51.9 (51.5 in December). 24-month high.

Flash China Manufacturing Output Index at 52.2 (51.9 in December). 22-month high.

However, again, there are reasons for caution. The leading components of the index are both flat-lining already:

Here’s the complete mix:

Nothing here to change my view that China is enjoying a slowly gently ramping rebound with a limited half-life. Full report below.

ViewPressRelease.pdf by Belinda Winkelman

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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.