China PMI Misses And Prints Lowest In 8 Months With 10 Of 11 Sub-Indices Contracting

Tyler Durden's picture

UPDATE: China's HSBC PMI came at 49.3 (slightly below the Flash print) but up from last month

The seemingly exuberant levels of the China Manufacturing PMI data when compared to HSBC's Manufacturing PMI have largely disappeared now as the two are the closest together in 9 months. As China's PMI drops to its lowest print in 8 months at 50.1 (less than the expected 50.5), we note that 10 of the 11 sub-indices (including employment and new orders) are all lower and now in contraction mode. Only the Output sub-index remains above 50 (in the if-we-build-it-they-will-come period). New Export Orders also fell notably. Of course having learned their lesson with the unintended consequences of their last major stimulus effort, we suspect the PBoC will be a little more careful with the method to resuscitate this time.



We will update later with the final HSBC print (as opposed to the Flash print below)...

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reader2010's picture

China spent trillions on worthless shitty construction projects and the US spent trillions on meaningless wars. 

Paul Atreides's picture

On the contrary, if you have trillions of US dollars that are about to become worthless what do you do?

You build empty cities, building projects and future infrastructure by trading your fiat reserve dollars for labour and bulk construction materials on the world market. 5-10 years from now those projects will still retain some if not all their value unlike the fast sinking US dollar.

john39's picture

i would rather have some empty cities than millions dead and fascist world government run by satanist bankers.

reader2010's picture

thanks to their great workmanship, their buildings simple fall apart in three to five years.

Abandoned Olympic Cathedrals Sit Rotting in Beijing … aJBPA.html




Arnold Ziffel's picture

Resource companies in Australia are suspending projects and laying off workers as China slwos it's coal and iron demand. Melbourne house prices are falling fast and defaults rising. The RBA is scared. They said the RBA is ready to print if need be to prop up the economy (aka, house prices).

Another RE Bubble about to pop looks like.

Bobbyrib's picture

I wonder how close Canada is too..

moskov's picture

US workmanship is so good their two towers in New York could literally be burn to collapse by itself. Truly stunning!

reader2010's picture

It was fully insured prior to the attack.

Conman's picture

Who is the Chinese Hilsenrath? Or do they just leak to our Hilsenrath?

westboundnup's picture

Doin' it at the park.  Doin' it after dark.


TahoeBilly2012's picture

The wars aren't not meaningless. The plan to destablize the entire region so one Country stands above the res. Guess which one?

Freebird's picture

Well the supply chain from Asia in my corner is utterly & totally fckd all the way through - so no surprises here ... nor there

ekm's picture

Now wait, wait.

China has 1.3 billion people. Are you telling me it is practically possible to measure the activities of 1.3 billion people at 0.1% accuracy?

Bullfreakingshit. Mathematically and practically impossible.

If they said, let's say "somewhere between 49 and 50", then yea I could pay attention to it. But exactly 50.1? 

Move on. Nothing new here.

Yen Cross's picture

 I totally agree EKM. The HSBC print comes in under 50 but the highest print in 5 months. The Flash comes in just over 50. Some dip shit at another (WEB) site plugs the HSBC print as expansion. WHAT A F..KING RETARD! ANYTHING UNDER 50 is just slower contraction. The aud/usd proceeds to rally 20 pips on complete shit news.

 The 1/2 life of that move seems to have passed now.

perpetual dilution's picture

So what? Is this data scary? Should we sell and go short? Futures don't seem to care. Are they down huge? If central banks print we go higher and if they don't we go lower. Nothing else matters.

HaroldWang's picture

/ES confused - is this good because it could have been worse or is it bad enough for more rate cut/stimulus? 

Whatever it is, it's just more muddling along for the world's growth machine. But never mind, it'll all be fine.

ptolemy_newit's picture

I would say CHina got rich the last 20 years!

they have the dollars not matter what thier worth (us less nuc events).

The usd will surge for the next 7 years, CHina will also!