ICYMI - Weekend China data for manufacturing & services PMIs (lower)

Weekend official PMIs from China:

• China Manufacturing PMI (April): 51.2 (expected 51.7)


• China Services PMI (April): 54.0 (prior was 55.1)

Long story short, both are at robust levels still (eg. for the manufacturing PMI, its fall was from a near 5 year high in March). However:

• Services PMI fell to its lowest for six months


• Weakness in both the manufacturing (falling demand, lower commodity prices, slower growth in exports) and non-manufacturing was across the board


• Policy emphasis in China is swinging a little to deleveraging and thus government stimulus is expected to slow (eg. the PBOC is cutting accommodation a little)

ICYMI - Weekend China data for manufacturing & services PMIs (lower)
ICYMI - Weekend China data for manufacturing & services PMIs (lower)
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