Chinese Purchasing Managers'' Index manifest global recession with high inflation
Bernie Snyder
Jul. 1, 2008

China has finally joined the bandwagon. The Purchasing Managers'' Index (PMI) in China fell to 52 from 53.3 in May, the China Federation of Logistics and Purchasing announced through email. . That's the lowest since August 2005.

According to analysts that low PMI number accompanies China’s out of control inflation. The index of new export orders declined for the third straight month, signaling that weaker global demand may further cool the world's fastest-growing major economy.

China’s growth acceleration has changed to a negative number. The growth expectation now is well below 9% and most like will be below 5% within a few months after the Olympics.

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