China PMIs scream empty apartments!

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The one-trick pony stumbles on. The latest Chian manufacturing PMI managed weak growth:

In August , the Purchasing Managers Index ( PMI ) of China’s manufacturing industry was 51.0% , a slight decrease of 0.1 percentage point from the previous month , indicating that the overall manufacturing industry was operating smoothly.

 

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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.