China PMIs Show Economy On Verge Of Contraction Amid Continued Growth Slowdown
While China’s credit impulse recently bottomed and is already starting its next major upcycle, the remnant of the current slowdown are still hitting the economy and overnight the latest PMI data showed that China’s manufacturing sector expanded at a slower pace in January amid a seasonal slowdown, Covid-19 outbreaks and a housing market drop which dragged activity at small firms to the weakest since the depth of the pandemic.