Relevant:
- China's Manufacturing Contracts for Second Month
- China Caixin manufacturing PMI contracts in April
- China Manufacturing "Expands" at Faster Pace; China Manufacturing "Contracts" 6th Consecutive Month; Confused by Conflicting Headlines?
- German Economy Takes a Blow From Weakening Global Demand
- U.S. Factory Activity Slows to Slowest Pace Since 2013
2008-11-01 — blogspot.com
Manufacturing in China expanded in September but has reversed to the downside once again. Amidst weak global demand China Manufacturing Contracts as Crisis Trims Exports... The Purchasing Managers' Index fell to a seasonally adjusted 44.6 last month from 51.2 in September, the China Federation of Logistics and Purchasing said today in an e-mailed statement. That was the lowest since the gauge was launched in July 2005. A reading below 50 reflects a contraction, above 50 an expansion.
Good data, and this answers the question of whether manufacturing would significantly rebound after the Olympics. Our long-term, big-picture question is then WHAT will China do with its $1 trillion+ in accumulated reserves, development-wise? Will they just be content to sit on it and let it waste away to nothing, uneconomically? Or will they deploy it to build their domestic economy? If so, will this be done effectively?
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