China’s NBS Manufacturing PMI increased to 49.2 for the month of November, up from 49.0 in October. The index indicates that the manufacturing sector has been contracting for the past 8 months, but only values below 49.0 are considered a risk-off signal.
Conclusion
The NBS Manufacturing PMI for China continues to signal risk-on, and the Australian bull-bear indicator is unchanged.
Acknowledgements
- China’s National Bureau of Statistics: Manufacturing PMI
- Trading Economics: NBS Manufacturing PMI
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.