zerohedge.com / by Tyler Durden on 11/30/2015 20:55
Following the earlier onslaught of weak (and strong) economic data, China has revealed its official and Caixin-based PMI surveys for Manufacturing and Services. Sure enough, while China’s official manufacturing data missed (to Aug 2012 lows), Ciaxin’s survey beat, jumping to June 2015 highs. even as China’s official Services PMI beat expectations, bouncing off 15-month lows. The question now is – given The IMF’s inclusion of the Yuan in the SDR basket – will The PBOC devalue (as offshore Yuan implies) to juice a collapsing manufacturing sector… or is China’s manufacturing now improving if one looks at the “other” PMI?
Lots of confusion, even if just as we suggested before the Caixin PMI print:
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