China official Manufacturing PMI 48.0 (expected 49.0) & Services 46.7 (expected 48.0)

The official PMIs from China's National Bureau of Statistics for November 2022

Manufacturing a big miss at a horrible 48.0

• expected 49.0, prior 49.2

Services with an even bigger miss at 46.7

• expected 48.0, prior 48.7

Composite is a shocker at 47.1

• prior 49.0

These awful results will continue until China sorts out its COVID-19 Covid-19 Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Read this Term problem. Yesterday we had rumours swirling they would do so. So far these have amounted to nothing. How much longer?

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The privately surveyed, and thus unofficial, PMIs from Markit/Caixin will follow later this week. These are different surveys, there is a greater representation of large and SEO firms in the official PMIs.

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