China’s export engine running out of breath. For both China’s economy and currency, that’s bad news.
Of China Official Purchasing Managers Index for September, released on Friday, is a mixed bag. The manufacturing index unexpectedly spiked to 50.1, breaking the 50-point mark that separates expansion from contraction for the first time since June. But the service sector index fell to a contraction for the first time since May, when Shanghai’s fierce shutdown was at its peak.