QTC: China – two-speed PMIs
With PMIs in TW and KR improving in May, the gap between the S&P and official mfg PMI is probably export-related. Still, the two PMIs do now give very different messages about the strength of the overall cycle.
![QTC: China – two-speed PMIs](/content/images/size/w2000/2024/06/China--manufacturing-PMI.png)
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