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If you think a global economic rebound is just around the corner, then please note China Manufacturing PMI is in contraction, and at a 78 month low.
- Flash China General Manufacturing PMI at 47.0 in September. 78-month low
- Flash China General Manufacturing Output Index at 45.7. 78-month low
In support of the idea that economic cheerleaders are nearly everywhere one looks ...
Commenting on the Flash China General Manufacturing PMI™ data, Dr. He Fan, Chief Economist at Caixin Insight Group said:
"Overall, the fundamentals are good. The principle reason for the weakening of manufacturing is tied to previous changes in factors related to external demand and prices. Fiscal expenditures surged in August, pointing to stronger government efforts on the fiscal policy front. Patience may be needed for policies designed to promote stabilization to demonstrate their effectiveness."
Mike "Mish" Shedlock