Here’s some evidence against the hard landing.
Last night, Chinese Flash PMI came in surprisingly strong.
Flash HSBC PMI™ data, compiled by Markit, showed Chinese manufacturing output increasing at the fastest rate in six months amid signs of improved demand for Chinese manufactured goods. Growth of new export orders was the strongest for almost a year, while overall new orders rose for the first time since July. In fact, all five of the indexes1 used to compile the PMI index reading contributed to the rise in the headline number, which climbed from 49.9 to a five-month high of 51.1 after adjusting for seasonal factorsInventory cycle .
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