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Better news from China today with the release of the non-manufacturing PMI (not to be confused with the services PMI) which bounced a couple of points to 55. Much of the increase was driven by a sizable bump in expectations which seems a bit soft but new orders also rose to respectable 51.4, the highest since September last year.
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.
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