A key Chinese manufacturing index just released has fallen south of expectations, partly or maybe wholly as a result of Bk of China tightening. Not a problem. Given the Bank of China brake, the yuan is a tad stronger vs the $, good news for US exporters (and good news for Chinese consumers). Tomorrow’s market crowd will digest that development, then an April survey for German manufacturing, finally, our own Manufacturing survey. Manufacturing can only carry the ball so long.
Sunday, May 1, 2011
World Manufacturing
A key Chinese manufacturing index just released has fallen south of expectations, partly or maybe wholly as a result of Bk of China tightening. Not a problem. Given the Bank of China brake, the yuan is a tad stronger vs the $, good news for US exporters (and good news for Chinese consumers). Tomorrow’s market crowd will digest that development, then an April survey for German manufacturing, finally, our own Manufacturing survey. Manufacturing can only carry the ball so long.
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