ASX headed for small bounce, Wall Street wraps champagne month

The Caixin/Markit PMI fell to three-year low of 48.3, down from 49.7 in December.

Soft demand underpinned the first fall in purchasing activity for 20 months, and businesses registered lower inventories of purchased and finished items, the official release said.

“The subindex for new orders dipped further into contractionary territory, pointing to a moderate contraction in demand across the manufacturing sector,” said Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group.

“Yet the gauge for new export orders rose notably above the 50 level, the dividing line that separates contraction from expansion, reaching its highest point since March 2018, showing that companies’ export orders have obviously rebounded since the truce in the China-US trade war.”

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from A Viral Update http://bit.ly/2S2Y1iq
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