Last night's China HSBC PMI read was a "very strong" one, says Goldman Sachs, noting a...

|By:, SA News Editor

Last night's China HSBC PMI read was a "very strong" one, says Goldman Sachs, noting a still sub-50 level does not indicate contraction. Looking into the sub-indexes, Goldman finds falling Finished Goods Inventory and rising Raw Materials Inventory, both signs of a cyclical recovery in the making.