Commerzebank with the note. Manufacturing PMIs showed initial damage The official manufacturing PMI fell to contraction territory at 49.0 in April from 50.5 in March, the lowest since December 2023 (Chart 1). The decline was due to a drop in production and new orders which both fell into contraction territory. In particular, new export orders
The post Tariff shock begins in China appeared first on MacroBusiness.