China's Caixin Manufacturing PMI reached 52.8 in July, up 1.6 ppts from June to the peak since February 2011. The index stayed at the expansion territory for three straight months, beating consensus of 51.1.
Source: AAStocks
It's interesting to see the PMI numbers coming out since last week as China's PMI is above 50 which signals an expansion. Anything below 50 will be considered as a retraction.
Looking at the GDP numbers for Q2, Europe has just announced that it has contracted -12.1%, US contracted -32.9% but China has grew by 3.2%. Logically would you think that the Chinese population could push the economic growth by 3.2% during March to June?
Reversing the thought process with US starting to open up, would Q3 see a blow out number too?
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