Shanghai composite and PMI’s new orders less inventory [Chart]29 September, 2012, 11:32. Posted by Zarathustra
The latest reading of HSBC/Markit China manufacturing PMI shows some improvements from low level, pointing to the slowdown of the pace of the slowdown.
The new orders minus inventory measures improved from its post-crisis low in August of -7.9 to -2.9 in September, which remains weak. Nevertheless, it is a bit of an improvement.
We found earlier that this measure tracks with Shanghai Composite Index pretty well. Here is the updated look of it.
Source: HSBC/Markit, Bloomberg