Positive surprises from China and the US

Review: Positive surprises from China and the US China’s PMI came to 50.4 against the expected level of 49.5. Not only was this a positive surprise, the figure was also above 50, which is the first time in 13 months. PMI in the US came to 52.4, against the expected 51. Hence appetite for investment increased once again. Fitch downgraded its credit rating of Cyprus from BB+ to BB- with negative outlook. There was widespread agreement among the Bank of England members to postpone further QE.

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Positive surprises from China and the US