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China’s official PMI is out at 50.3, up from last month’s 50.2 against consensus of 50.1. the dollar has immediately threatened 93 cents. To give you idea of how squeezed it is, it would have gone up if it had missed as well.
The internals were similar to the Flash with output and new orders flat but new export orders jumping sharply.
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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