The official Chinese PMI Manufacturing edged down to 51.0 in August, from 51.1, slightly below expectation of 51.1. PMI Non-Manufacturing, on the other hand, rose to 55.2, up from 54.2, above expectation of 54.0.
Zhao Qinghe a senior statistician with the NBS noted, “demand continues to recover, and the supply-demand cycle is gradually improving” with new order index rising for the 4th month to 52.0. trade also improved with new export orders rising 0.7 to 49.1.
However, “some companies in Chongqing and Sichuan reported an impact from the heavy rains and floods, resulting in a prolonged procurement cycle for raw materials, reduced orders and a pullback in factory production.”
