3 July 2023 (China) Purchasing Managers are the first step in the manufacturing process. They are the ones who buy the raw materials and components that their factories will use to produce their finished products. The Purchasing Managers Index (PMI), measured by countries around the World, is one of the most reliable indicators of economic expansion or contraction. In the latest reading of the Chinese PMI, their Purchasing Managers remained positive, with a reading above 50. But at a mere 50.2, down seven ticks from the month before, that positive reading is by the thinnest of margins. The World continues to watch the Chinese economy as a principal global manufacturing hub.
Purchasing Managers are the first step in the manufacturing process. They are the ones who buy the raw materials and components that their factories will use to produce their finished products. The Purchasing Managers Index (PMI), measured by countries around the World, is one of the most reliable indicators of economic expansion or contraction. In the latest reading of the Chinese PMI, their Purchasing Managers remained positive, with a reading above 50. But at a mere 50.2, down seven ticks from the month before, that positive reading is by the thinnest of margins. The World continues to watch the Chinese economy as a principal global manufacturing hub.
