The latest China manufacturing PMI new export order index reported as 52.4
before market open on 1 March, suggesting the strongest expansion since March
2011. (source: National Bureau of Statistics). The PMI indices measure
sequential changes and value above 50 for this index suggests expansion. Since
January 2011 this index has produced only 51 expansionary values against 95
contractionary values. This latest print of 52.4 however contrasts with the
anecdotal stories we heard about the current