Before we get too enveloped in Euro stuff today, we wanted to take a step back and mention that the HSBC FLASH PMI for China was pretty mediocre.
The print of 48.9 was down from 50.1 last month, and thus also shows contraction.
It's the first negative reading since last July.
Shanghai shares fell over 1%.
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See Also:
- China Is Already Scared Of QE3, And Is Blaming The US For Its Inflation mess
- Chinese Government Increasingly Fretting Over Home Prices In Lower-Tier Cities
- Foreign Direct Investment In China Slows
Source: http://feedproxy.google.com/~r/TheMoneyGame/~3/VHOu_sAok6c/july-hsbc-flash-pmi-for-china-2011-7
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