China’s official PMI number fell to 50.4, which was lower than 52 expected by economists. It’s also just marginally above that key breakeven level of 50.
- Output, New Export Orders, Stocks of Finished Goods, Purchases of Inputs, expanding.
- New Orders, Backlogs of Orders, Imports, Input prices, Stocks of Major Inputs, contracting.
- Suppliers’ Delivery, slower.
Asian markets, U.S. futures, and the Aussie dollar instantly sold off.
From Li & Fung Group:
Photo: Li Fung Group
All eyes are on China’s official PMI number, which will be released at 9:00 PM EST.
Economists expect it to decline to 52 from 53.3 last month.