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πŸ‡¨πŸ‡³ China's PMI divergence looks manageable; what's happening to producer margins does not

πŸ‡¨πŸ‡³ China's PMI divergence looks manageable; what's happening to producer margins does not

China's official PMI flatlined at 50.0 in May while the Caixin gauge held at 51.8, but April PPI surged to +2.8% year-on-year, a 45-month high. Manufacturers are eating the cost shock, not passing it through.

Financial dashboard showing China manufacturing PMI latest release: actual 50, consensus 50, previous 50.3, with May/July 2026 forecasts and correlated symbols.
China's official manufacturing PMI held at 50.0 in May as output slowed and new orders contracted amid elevated input costs. Source

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