China has just officially been Trumped. The official China PMI is elegantly swan diving:
Led by tanking new export orders:
The services PMI was not much better:
Again led by tanking export orders:
Of course, building remains robust:
The business activity expectation index is 60.6% , up 0.5 percentage points from the previous month , and continues to be in a high economic range, indicating that non-manufacturing enterprises are optimistic about market development expectations. In terms of industries, the service industry’s business activity expectation index was 59.7% , up 0.4 percentage points from the previous month . The construction industry business activity expectation index was 66.0% , up 0.9 percentage points from the previous month .
But that’s about all.
Now, for that “great” China deal.