China's monthly purchasing managers index covering the manufacturing sector released on Friday showed some further improvement in activity
John Robertson
PortfolioDirect
China's monthly purchasing managers index covering the manufacturing sector released on Friday showed some further improvement in activity. The improvement, slightly ahead of where commentators expected the result, is probably enough to validate the recent strengthening in resource sector equity prices but not enough to generate extra momentum. The Chinese activity rate still appears to rely too heavily on government measures, high growth in lending and maintenance of a high proportion of investment spending in the total spending mix. In the shorter term, sourcing growth in this way helps support interest in the resources sector and eases cyclical adjustment pressures but also implies an ongoing risk as long as the inevitable adjustments facing the Chinese economy are still to be confronted.
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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business strategist and investment market professional for over 30 years after starting his career as a Commonwealth Treasury economist in Canberra. Since being Australia's top-rated commodities analyst and chief economist at one of Australia' leading stockbroking firms, he has advised companies across the mining, consumer products, IT and biotech sectors on their equity market relations. He leads the firm's investment evaluation and security structuring activities on behalf of the Australian Small Scale Offerings Board (ASSOB), the world's first equity 'crowdfunding' investment platform. John Robertson discusses the interaction of mining and investment markets in his weekly 'From the Capital' column in Mining Journal.
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John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
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