China Won’t Save Global Growth - WSJ
▻https://www.wsj.com/articles/china-wont-save-global-growth-1527758505
▻https://images.wsj.net/im-12598/social
Amid the sturm und drang in global markets, an apparent ray of light from China’s latest monthly purchasing managers index: the healthiest factory activity in eight months, with both total orders and new export orders quickening.
The key factor lifting China’s PMI from barely 50—the line between contraction and expansion—as recently as February to a rosy 52.9 in May was domestic. Industrial activity has surged since seasonal pollution restrictions ended in March, releasing winter’s pent-up demand. That’s one reason that global commodity prices haven’t suffered more from the recent strong dollar.