China: Growth has passed its peak - Rabobank

Michael Every, Senior Asia-Pacific Strategist at Rabobank, points out that two leading PMI-style measures of Chinese growth are showing that growth is past its peak.

Key Quotes

“That is something we have been flagging as likely to occur soon- with an SME confidence index at its lowest in 16 months, while still far from poor at 54.7, and the ‘SpaceKnow China Satellite Manufacturing Index’ (yes, it’s a thing now) at 49.6.”

“On the other hand, Chinese sales managers are feeling more German(e) about downside risks, with their monthly survey of sentiment at 52.5, a 20-month high.”