Not v-shaped by a very long way. Remember that these indexes are directional not absolute. First, manufacturing:
In April , China’s epidemic prevention and control situation was further consolidated, the production and living order accelerated, and manufacturing and non-manufacturing production and operation activities continued to improve. The manufacturing PMI was 50.8% , down 1.2 percentage points from the previous month ; the non-manufacturing business activity index was 53.2% , up 0.9 percentage points from the previous month ; the comprehensive PMI output index was 53.4% , up 0.4 percentage points from the previous month .
1. Operation of China Manufacturing Purchasing Manager Index
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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.
