HSBC/Markit China manufacturing PMI flash estimate falls in May24 May, 2012, 10:34. Posted by Zarathustra
The flash estimate of HSBC/Markit China manufacturing PMI falls to 48.7 from 49.3, showing continuing contraction in manufacturing activities. It has been below 50 since November.
Also note the huge divergence now showing between HSBC’s estimates and the official one.
Source: HSBC/Markit, NBS
The components are not looking very great, with New Orders contracting at faster rate.