Slip-ups In Manufacturing Recovery
China’s Jun 21 PMIs came close to market expectations despite slip-ups in
manufacturing PMI which edged down to 50.9 from May 21’s 51.0, mainly due to lower production. On a more positive note, purchase and outdoor price indices fell mom, as the government moved to cap speculative activities in commodities futures. Non-manufacturing also slowed, falling to 53.5% from 55.2% in May 21, and does not bode well for the near-term outlook.