Ravi Ananthanarayanan Moneycontrol News
No surprises here. Nevertheless, a decline in China’s manufacturing purchasing managers' index to below 50, signalling a contraction, has shock value.
The official PMI fell to 49.4 in December and is at its lowest since 2016. Slowing industrial activity is likely to continue into 2019. A gauge of new export orders was also down.
Thankfully, the services PMI appears to be in better shape.
China’s industrial revival rests on a thaw in trade tensions and a generous economic stimulus. An ailing dragon is bad for the global economy and its effect on commodity prices remains a risk for Indian miners and metal producers.
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