Recapping the China official PMIs – manufacturing moved into expansion

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. 

china port
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