Goldman Sachs’s China economist cites China’s emerging industries purchasing managers index (EPMI):
- recorded an uptick in May
- EPMI is widely seen as a leading indicator of China’s official manufacturing PMI
- suggests that “a tentative sign that manufacturing activity may begin to stabilize”
GS look for the manufacturing PMI to be at a still contractionary 49.8. from 49.22 in April.
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This article was written by Eamonn Sheridan at www.forexlive.com. Source: https://www.forexlive.com/news/goldman-sachs-china-pmi-preview-leading-indicator-suggests-manufacturing-stabilising-20230531/