In the past few weeks, concerns about the unevenness and durability of China’s post-Covid recovery have turned to despair. This says more about inflated expectations at the beginning of the year than it does about the tepidness of China’s recovery.
China’s official manufacturing purchasing managers’ index (PMI) fell to its lowest level in five months in April, data released on Wednesday showed, highlighting the uneven economic recovery.
OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. They discuss today's debt ceiling vote, a hot JOLTS report,
Chinas Manufacturing Purchasing Managers Index, known as the PMI, tumbled alarmingly in April from 51.2% in March to 49.2% in April. Of course, the crude oil markets took it seriously, because oil price fell on Monday and the trend continues with no sign of abating the next day. Crude oil markets.