Sixth Month-In-A-Row Of Chinese Manufacturing Contraction As Jobs Fall Fastest In 3 Years

Confirming what we already knew last night, HSBC just announced their final manufacturing PMI (revised slightly higher from the flash PMI) but confirming - via their data - that China is now in its sixth month of manufacturing contraction. Of course this is entirely irrelevant as last night China itself pointed out via its manufacturing PMI data that all was well and in fact the Chinese economy is expanding at its fastest in 14 months. The April HSBC print was modestly higher than the

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