The official China PMIs climbed into expansion after 3 months of contraction, welcome news indeed as restrictions eased bac in June:
Reuters have a recap up with a little more, and still some wariness:
- headwinds, including a still subdued property market, soft consumer spending and fear of any recurring waves of infections, persist.
Even Chinese officials are cautious:
- "Even though the manufacturing sector continued to recover this month, 49.3% of the companies reported orders were insufficient," said Zhu Hong, senior statistician at NBS. "Soft market demand is still the main problem facing the manufacturing industry."
Still, the worries are for the future (maybe the near future, or the far, we'll see) but for today sentiment has improved. Chinese stocks are higher, USD has stopped climing for the session here. 10 min bars:
