China PMIs fade, fiscal authorities not coming to the rescue

Monday, 2 August 2021

Over the weekend China released its latest round of official PMIs with manufacturing fading at 50.4 and services also slipping to 53.3:

New orders are also softening for both as well, and new export orders are falling away:

All pretty much as expected as credit tightens.

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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.