"We already knew that the crucial official Chinese PMI number unexpectedly fell to 49.2 in August. This was much worse than the 50.0 reading expected by economists.
Today, we learned that the unofficial HSBC PMI number also disappointed falling to 47.6.
The Chinese PMI numbers have people worried that the world's second largest economy is headed for a hard landing.
Overall, the PMI numbers confirmed that the global economy continues to be weak, with most PMI readings coming in below 50. A reading below 50 signals contraction."
Another big flashing red light saying "Crash Ahead!" – Wes
