For the last few days, more upbeat economic data from China has been released, to the pleasure of investors. Among other data, the manufacturing Purchasing Managers’ Index measured by Caixin climbed for the second month in a row to 51.2 in June.
The optimism at the manufactures is mainly explained by an increased trust in further easings following the coronavirus disease 2019 (Covid-19) lockdowns. It is my impression of the domestic-driven demand that it is still gaining momentum, and thereby also supporting the good mood among corporations.