China’s services PMI highest in almost 10 years
The Caixin China Services PMI rose sharply in May, comfortably beating expectations. At 55.0, the services PMI reached its highest level in almost ten years. Obviously this is positive news in general, but the fact that the services sector – for which lockdowns and other Covid-19 related measures could have a longer-lasting impact – is recovering so well is especially encouraging. If China remains a blueprint for how economies can get out of this crisis, then better times are ahead for other parts of the world as well.
As a senior portfolio manager I use charts to illustrate financial issues every day. I tweet my favorites as @jsblokland and was named 'one of the 50 most important people for investors to follow in 2018' by MarketWatch.
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