China's purchasing managers indices fell deeper into contraction in April By ross_burland China Equities USDCNY
, particularly the services PMI. This follows a poor close on Wall Street on Friday as a technology sell-off continued to conclude the biggest monthly selloff since 2008 for the NASDAQ. With the Chinese data, it could be a grim start to the week in Asia.
''The PMI data suggests the economy is even worse shape than many had predicted, and we continue to see growth undershooting the official target of around 5.5%,'' analysts at TD Securities argued. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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