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While China's April PMI was weak, there are positive signs for oil from holiday travel

Commentary from ANZ on oil:weak economic data from China raised concerns about a patchy recovery. Data released over the weekend showed China’s manufacturing activity unexpectedly slowed, with the official PMI dipping back below 50 for the first time since December 2022. Sub-indexes for new orders, new export orders and manufacturing employment were all below 50. However, there were some positive signs the recovery is continuing. Holiday spending on the first day of the five-day Golden Week holi... Read More

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Posted: May 2 2023, 00:04

Author Name: forexlive

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