China’s April Flash PMI is out and contained no real surprises with still quite sluggish conditions:
Flash China Manufacturing PMI™ at 48.3 in April (48.0 in March). Two-month high.
Flash China Manufacturing Output Index at 48.0in April (47.2 in March). Two-month high.
The internals are still weak:
About as expected with a little lift in the second derivative of local conditions but a disappointing deterioration in export business.
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.
