With the world transfixed on every single economic data point that crosses the wires at the moment, it was no wonder that many took to the internet this morning to proclaim wonder at China’s latest PMI reading.
For, after a terrible collapse in February to 35.7 — a record low — as the People’s Republic shut down to stop coronavirus, March’s figure came in at what optically looks like a pretty positive 52.
Cue the commentariat responding in positive terms. The Spectator’s editor Fraser Nelson, never one to shy away from an economic argument despite his publication’s questionable record, posted this on Twitter:
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