Chinese contraction returns

Monday 3 June 2024

The PMIs refuse to find sustained traction. Goods:

In May , the manufacturing purchasing managers’ index ( PMI ) was 49.5% , down 0.9 percentage points from the previous month , and the manufacturing industry’s business climate has declined.

Neither domestic nor external demand is holding in orders:

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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.