Chinese PMIs remain weak

They’re positive but given they’re directional not positional they indicate a still-weak recovery. Manufacturing is barely expanding:

From the perspective of enterprise scale, the PMI of large and medium-sized enterprises were 52.1% and 50.2% , up 0.5 and 1.4 percentage points from the previous month ; the PMI of small enterprises was 48.9% , down 1.9 percentage points from the previous month .

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