Quotes from Danske Bank:
-The overall picture appears to be a subdued Chinese economy that has started to stabilise. GDP in H1 15 will in our view remain relatively stable above 7% y/y due to favourable comparisons.
-Last year the manufacturing PMI declined markedly in Q1 with current output in the HSBC/Markit manufacturing PMI bottoming out at 47.2 in March (the current level is 50.8).
-We still expect the Chinese PMIs to move moderately higher in the coming months, supported by modest monetary easing, stabilisation in the property market and resilient exports.
