China's August Caixin manufacturing PMI came in at 50.4 vs. 49.8 expected and 49.9 last, as operating conditions improved slightly last month.
On Saturday, the purchasing managers' index (PMI) for China's manufacturing sector arrived at 49.5 in August, down from 49.7 in July, the National Bureau of Statistics (NBS) reported.
Summary
“Operating conditions faced by Chinese manufacturers improved slightly in August, with firms registering the quickest increase in production for five months. New order intakes were meanwhile broadly stable, despite a faster decline in export sales. The improved production trend-led firms to expand their purchasing activity further, while stocks of finished goods rose for the first time this year to date. Prices data showed a renewed fall in input costs contributed to a stronger decline in output charges.
At the same time, sentiment regarding the 12-month outlook for output softened to a level that was among the lowest in the series history, with optimism dampened by worries over the future trading relationship of China and the US, as well as signs of weaker global conditions.
Supporting the higher headline index reading was the quickest increase in production for five months. Though only slight overall, the expansion contrasted with broadly unchanged output in July and a reduction in June. This contributed to the first rise in stocks of finished goods in 2019 to date.”
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