China PMI rolls over…as expected

In last week’s China update blog posting, I had a chart showing the Purchasing Manager’s Index (PMI) with April’s reading estimated at 51.0.  The April PMI was just announced. I was optimistic. Who knew?  A 50.5 showed up.

 

This means the manufacturing sector (in China) is likely still growing, but not by much. And that trend line is really not your friend.