China PMI slows again

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The April China PMI is out and slowed after the post-pollution cuts rebound:

In terms of the size of the company, the PMI of large-sized companies was 52.0% , which was 0.4 percentage points lower than last month and remained in the expansion range; the PMI of small and medium-sized enterprises was 50.7% and 50.3% , respectively, up 0.3 and 0.2 percentage points from the previous month , and it was continuously The boom period.

From the classification index, among the five sub-indexes that constitute the manufacturing PMI , the production index, new order index, and supplier delivery time index are above the critical point, and the raw material inventory index and the employee index are below the critical point.

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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.