China June Manufacturing PMI 50.2 (expected 50.5) Non-manufacturing 54.7 (expected 52.5)

These are the official PMIs from the China National Bureau of Statistics

Manufacturing PMI 50.2

• expected 50.5, prior 49.6

Non-manufacturing 54.7

• expected 52.5, prior 47.8

Composite 54.1

• prior 48.4

Much better out of China, PMIs climbing into expansion during June as restrictions eased back a little. Happy days. Until the next outbreak and round of severe lockdowns that is. The services PMI is especially solid, well above the central estimate.

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The privately surveyed Caixin PMIs will follow in coming days. This is a survey including smaller firms as agai=nst the NBS official data which is heavily represented with larger firms and SOEs.

eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term