All three of China’s official PMIs are now in expansion:
Via Bloomberg a bit of a recap of the data, main points:
- the impact of a power crunch subsided (coal producers boosted output and inventories rose)
- inflation pressures eased
- chief economist for Greater China at ANZ: “activity seems to be reactivated, thanks to government relaxation measures supporting property projects”
Good news for China is a positive input for the Australian dollar.