TheStreet's Jim Cramer says markets appear to be brushing-off weak PMI data from China because expectations were already low. Macau gambling revenue is up 13% for March, and Cramer believes this is because industrials in China are slowing down and individual consumption is gaining speed. Cramer says this is good news for companies that sell into China, but hasn't yet translated to better numbers for Action Alerts PLUS holding Proctor & Gamble. Cramer is also keeping a close eye on Coach and Nike.

At the time of publication, Cramer was long ___.

More from Video

Replay: Jim Cramer on North Korea, Oil Prices, Apple and Carnival Corporation

Replay: Jim Cramer on North Korea, Oil Prices, Apple and Carnival Corporation

Video: This Startup Connects Buyers and Sellers of Legal Marijuana

Video: This Startup Connects Buyers and Sellers of Legal Marijuana

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Jim Cramer: If You're Concerned About Visa's Run, Check Out Global Payments

Jim Cramer: If You're Concerned About Visa's Run, Check Out Global Payments

60 Seconds: What the Heck is GDPR?

60 Seconds: What the Heck is GDPR?