Sunday, July 1, 2012

The Latest on China's Crashing Economy

The official Chinese purchasing managers' index (PMI) fell to 50.2 in June, China's National Bureau of Statistics reports. This is a seven month low.

"New orders and input prices are still falling, which show there are still many factors affecting production. A recovery in industrial output would take time," Zhang Liqun, a government researcher, said in a statement accompanying the PMI data.

Meanwhile, consumer prices continue to climb, indicating China is in some sort of stagflation phase. With generally climbing prices, but declines in the capital goods sector.

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