China: Manufacturing and non-manufacturing PMIs pick up in August
Latest reading: The National Bureau of Statistics’ Manufacturing Purchasing Managers’ Index (PMI) came in at 49.4 in August, up from July’s 49.3. As such, the index remained below the 50.0 no-change threshold, signaling a continued deterioration in manufacturing sector operating conditions from the previous month. The uptick was due to improved readings for new orders and output.
The National Bureau of Statistics’ non-Manufacturing PMI stood at 50.3 in August, up from July’s 50.1 and matching market expectations. The increase was due to improved services activity offsetting worsening construction activity.