China Concerns Accelerate, As Manufacturing Gauge Comes In Weak

Chinese

With all the new talk about a double-dip in the economy, you can sense the centre of attention shifting away from Europe, and towards the two poles of the global economy: The US and China. A bona fide slowdown in either one would seriously rattle global markets, and lately the data has been consistently disappointing.

The latest out of China confirms the trend.

Bloomberg:

China’s manufacturing expanded at a slower pace for a second month in June, adding to signs that growth in the world’s third-largest economy is moderating.

The Purchasing Managers’ Index fell to 52.1 from 53.9 in May, the Federation of Logistics and Purchasing said in an e- mailed statement today. That was less than the median 53.2 estimate in a Bloomberg News survey of 12 economists.

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