China PMIs send mixed messages

Monday 2 October 2017

China’s PMIs were all out on the weekend and sent very mixed messages. The official PMI boomed with everything at the fastest pace in five years:

Aug-16	50.4	52.6	51.3	49.7
Sep-16	50.4	52.8	50.9	50.1
Oct-16	51.2	53.3	52.8	49.2
Nov-16	51.7	53.9	53.2	50.3
Dec-16	51.4	53.3	53.2	50.1
Jan-17	51.3	53.1	52.8	50.3
Feb-17	51.6	53.7	53	50.8
Mar-17	51.8	54.2	53.3	51
Apr-17	51.2	53.8	52.3	50.6
May-17	51.2	53.4	52.3	50.7
Jun-17	51.7	54.4	53.1	52
Aug-17	51.7	54.1	53.1	50.4
Sep-17	52.4	54.7	54.8	51.3

And the chart:

The services PMI also shot up 1.8 points to 54.4% with construction leading the way:

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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.