Will Upcoming Chinese PMIs Show Slowdown?

This suggests that Chinese firms are seeing less demand from other major economies.

Expectations are for China’s April NBS Manufacturing PMI to come in at 51.7, a virtually insignificant drop from 51.9 recorded. Although comfortably in growth territory, a drop would suggest a return to the downtrend since November.

In other words, the recent positivity out of the vaccine rollout hasn’t translated into a significant increase in orders from manufacturers.

The Caixin survey has a slightly different projection. Projections indicate that the April Caixin PMI will come in at 50.8 compared to 50.6 in the prior reading. Two decimals are pretty insignificant.

But, again, it could mean that the trend for the last several months is broken.

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