non-manufacturing pmi

Rebalancing Decoupled Booms

By |2018-08-01T12:07:19-04:00August 1st, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The entire purpose of China’s presumed rebalancing act is supposedly that the country’s economy will no longer be strongly linked to industry. Manufacturing, for export in particular, is what made modern China into an economic powerhouse, transforming a once agrarian subsistence society (thanks to socialism). One need only look at overhead or satellite images of those cities chosen as special [...]

PMI Convergence

By |2016-02-02T12:39:28-05:00February 2nd, 2016|Economy, Federal Reserve/Monetary Policy, Markets|

The Chinese Manufacturing PMI spent most of the past four and a half years straddling just the good side of 50. In fact, it hasn’t been above 52 since early 2012 – a quite remarkable feat of low variation. This fruitlessness is somewhat emblematic of China’s dilemma; no matter what they do the industrial and manufacturing sector will not catch [...]

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