- Our CMI stood at just 3.2% in May, pointing to a further setback for China’s economy.
- This implies a much faster pace of deceleration than that reported by the official data.
- Notably, until early last year, our measure of China’s economic growth rate tracked that reported by the official data. The two now diverge wildly.
The precious yellow metal, most in demand at times of heightened uncertainty, caught the headlines last week as its price hit a new five-year low. But it is important to set these recent price movements in a broader context.
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