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The latest HSBC Flash PMI on China points to a still soft economy in China.   The latest reading came in at 48.7, down from 49.3 in April.  The Manufacturing Output Index came in at 50.5, up from 49.3.  Here’s more via Markit:

“Commenting on the Flash China Manufacturing PMI survey, Hongbin Qu, Chief Economist, China & CoHead of Asian Economic Research at HSBC said:

“Manufacturing activities softened again in May, reflecting the deteriorating export situation. This calls for
more aggressive policy easing, as inflation continues to slow. Beijing policy makers have been and will step up
easing efforts to stabilize growth, as indicated by a slew of measures to boost liquidity, public housing and
infrastructure investment and consumption. As long as the easing measures filter through, China will secure a soft landing in the coming quarters.'”

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