China Caixin PMI Manufacturing rose to 53.1 in August, up fro m52.8, above expectation of 51.3. Markit noted the sharpest increases in output and new orders since the start of 0211. New export work rises for the first time in 2020 to date. Employment also moves closer to stabilization.
Wang Zhe, Senior Economist at Caixin Insight Group said: “Overall, the post-epidemic economic recovery in the manufacturing sector continued. Supply and demand expanded with the pickup in overseas demand. Backlogs of work continued to increase. Both quantity of purchases and stocks of purchased items also grew. Companies’ future output expectations remained strong, reflecting a positive outlook for the manufacturing sector for the year ahead.
“Employment remained an important focus. An expansion of employment relies on long-term improvement in the economy. Macroeconomic policy supports are essential, especially when there are still many uncertainties in domestic and overseas economies. Relevant policies should not be significantly tightened.”
