China steel PMI finds life!

Monday 1 February 2016

Just about the most volatile index on earth, the Chinese steel PMI, has found some life:

Steel Industry PMI 46.7 40.6 37.0 42.2 43.7 44.7 41.0
Output 45.6 38.5 35.4 43.1 44.6 47.5 41.0
New Orders 49.9 40.9 29.7 37.9 40.7 39.9 36.6
New Export Orders 50.7 47.8 41.2 39.3 40.7 54.5 56.1

New orders is especially impressive! And the chart:

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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.