Red Ponzi Slumping—PMI Prints Contractionary In June

The other Chinese PMI, the Caixin Manufacturing PMI, hammered expectations as it unexpectedly slumped back into contraction.Falling from 50.2 in May to 49.4 in June, the Cixin PMI – which differs from the official, NBS report by shifting away from SOEs and large enterprises and instead focusing on small and medium businesses…..