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China has released its official PMI and it showed that things are not at least getting worse any faster, coming in at 49.8. Output was up marginally to 52.3 and new orders also expanded slightly at 50.2. New export orders remained in contraction at 47.9:
Non-manufacturing was stable at 53.4. The Caixin services PMI for September was 50.5 down from 51.54.
Nothing flash in either but may be enough to kick the dead cat along a little.
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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.
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