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China Manufacturing PMI Suggests "Sluggish Domestic Activity & Uncertain Export Demand"

Tyler Durden's picture




 

Modestly higher than the 'contractionary' 49.7 print in Janauary, February's Markit (flash) China Manufacturing PMI printed at 50.1 (beating expectations of a drop to 49.5). However, before global investors pop the proverbial champagne corks of global recovery, we note that employment's drop accelerated, New Export Orders contracted the most since June 2013, and prices continued to fall. Of course, HSBC is careful to note that "more policy easing is still warranted" because they believe, "domestic economic activity is likely to remain sluggish and external demand looks uncertain." For now Chinese stocks are holding losses after the lunar new year and the Yuan has weakened further near 30 month lows - once again testing the upper 2% fix band.

 

A middle of the road 50.1...

 

And the breakdown does not encourage too much...

 

With the biggest contraction in export orders in almost 2 years and continued weakness in employment...

 

 

And the Yuan is weakening further...

 

 

Charts: Bloomberg

 

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Tue, 02/24/2015 - 22:38 | 5825186 disabledvet
disabledvet's picture

Where is the money laundering for Mexican drug cartels and tax evasion for all the "big wigs" statistics?

 

Certainly that is good news...

Wed, 02/25/2015 - 02:20 | 5825885 one_hundred
one_hundred's picture

my neighbor's mother makes $86 /hr on the computer . She has been laid off for 10 months but last month her pay was $21128 just working on the computer for a few hours. go to the website... www.globe-report.com

Tue, 02/24/2015 - 22:49 | 5825230 GeezerGeek
GeezerGeek's picture

Uncertain export demand: could it have something to do with the West Coast ports, some under Chinese control, having refused to offload ships?

 

Tue, 02/24/2015 - 23:54 | 5825455 tarabel
tarabel's picture

 

 

Here is all you need to know about the boob bait thrown out by China and all the other institutional con artists everywhere:

I was at the recycling place last week. They'd just dropped the price of steel to 1 cent a pound.

Repeat: 1 cent a pound.

 

Wed, 02/25/2015 - 03:15 | 5825970 joego1
joego1's picture

On a long enough time line China will flatline.

Wed, 02/25/2015 - 04:26 | 5826049 omi
omi's picture

IT doens't suggest that in any way.

There's a largest holiday in China right now, some people leave for a month, it's literally impossible to find workers.

What it does suggest is that there's almsot no growth in foreign orders, which corresponds to no growth in "developed" countries.

Wed, 02/25/2015 - 06:12 | 5826140 orangegeek
orangegeek's picture

china is fucked

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