Chinese economy

China October Manufacturing PMI 49.2 (expected 50.0) Services PMI 48.7 (expected 51.9)

China October Manufacturing PMI 49.2 (expected 50.0) Services PMI 48.7 (expected 51.9)

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China’s official PMI for October 2022. Manufacturing 49.2 expected 50.0, before 50.1 Non-manufacturing 48.7 expected 51.9, before 50.6 Compound is 49.0 — These are terrible results. There was a long holiday in October, which really should have given retail and travel a boost. But, it’s the same old story with China having another wave of …

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Stocks plunge on fears for China's economy as Xi surrounds himself with zero-Covid cronies

Stocks plunge on fears for China’s economy as Xi surrounds himself with zero-Covid cronies

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Chinese stocks plunged on Monday as Xi Jinping tightened his grip on power and official data indicated the economy would grow far less than expected under a zero-Covid policy that has crippled growth. Shanghai’s benchmark composite index fell 2%, while Hong Kong’s Hang Seng index fell more than 6% to its lowest level since the …

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