hong kong above the gamelan. and look at australia. those thanks to the pmi. data from china has been high on the agenda for our guests this morning. the economy is generally in good health. fairly broad-based improvement. there was a rebound in output. we saw a continued expansion in export orders and an acceleration in new orders in general. since the economy -- it seems the economy has turned the corner. there will be questions over the sustainability and the general strength of the recovery. >> richard gibb is mccoury's head of economics. he is less optimistic. >> we are not impressed really by the many stimulus and the very targeted [indiscernible] we think it will need to be broad base.