China’s non-manufacturing PMIs subdued

Wednesday 3 July 2013

China has its two non-manufacturing PMIs out today. The first official edition, the non-manufacturing PMI, which covers industrial sectors outside of manufacturing, registered a still growing 53.9, a slight fall from May’s 54.3. It was a similar story in the HSBC services PMI, which rose slightly to 51.3.

Neither is lighting up but growth is growth.

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.