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China Manufacturing PMI Suggests "Sluggish Domestic Activity & Uncertain Export Demand"
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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Where is the money laundering for Mexican drug cartels and tax evasion for all the "big wigs" statistics?
Certainly that is good news...
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
Uncertain export demand: could it have something to do with the West Coast ports, some under Chinese control, having refused to offload ships?
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.
On a long enough time line China will flatline.
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.
china is fucked