China's factories shrink for a second month as MÜSİAD's composite index tops 50
China's official manufacturing purchasing managers' index came in at 49.8 in August, up from 49.2 in July, a shade under the 49.85 economists had expected, and still under the 50 line for a second month. New orders returned to growth at 50.6 and new export orders at 50.1. MÜSİAD's composite purchasing index rose 0.8 points to 50.3, with manufacturing down 2 points at 51.6 and services down 0.2 points at 48.1.
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China's PMI is 49.8: still shrinking, orders back above 50
The official manufacturing purchasing managers' index came in at 49.8 for August, up from 49.2 in July and a shade under the 49.85 economists had expected. Anything under 50 still means the sector shrank, and it has now done so for a second month running. New orders returned to growth from 48.5 in July to 50.6, and new export orders from 49.6 to 50.1. Huo Lihui, a statistician at the National Bureau of Statistics, said that of 21 surveyed industries, 16 registered month-on-month gains and that production and demand expanded in tandem, led by hi-tech manufacturing and large firms. Lynn Song, chief economist for Greater China at ING, said the data came in a little stronger than market expectations.[1]
MÜSİAD's composite is 50.3, with manufacturing at 51.6 and services at 48.1
The composite index rose 0.8 points to 50.3. The manufacturing index fell 2 points to 51.6 and the services index slipped 0.2 points to 48.1. Among the sub-indices, business volume and supplier delivery times rose on the month in services, while supplier delivery times and employment rose in manufacturing. The association reads the August figures as showing flat activity in services and a limited loss of momentum in manufacturing against the previous month.[2]
China stays under 50 as MÜSİAD's composite crosses the line
China's official manufacturing index is still shrinking at 49.8 under the 50 line, while MÜSİAD's composite purchasing index has crossed that threshold at 50.3. Manufacturing remains in expansion at 51.6 even after a 2-point drop; services stayed in contraction at 48.1. In China manufacturing is still shrinking at 49.8, though the new-orders sub-indices have turned up at 50.6 and 50.1.[1], [2]
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