Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

China’s Caixin PMI offers silver lining

Published 09/01/2019, 11:29 PM
Updated 09/01/2019, 11:33 PM
© Reuters.

Investing.com China’s economy remains under pressure but some mixed data out Monday morning offers a glimmer of hope.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), released Monday morning, recorded an increase to 50.4 in August (with a number over 50 signalling expansion) up from 49.9 in July.

However, the official PMI released on Saturday by the National Bureau of Statistics (NBS) suggested a gloomier outlook. The NBS said the official PMI for August came in at 49.5, down from 49.7 in July.

Marking a more positive note, services seem to be doing better. The official non-manufacturing PMI rose for the first time in five months to 53.8 in August from 53.7 in July.

“China’s economy showed signs of a short-term recovery, but downward pressure remains a long-term problem,” Zhong Zhengsheng, director of macroeconomic analysis with CEBM Group, told Caixin, a mainland China business publication.

The Caixin index suggested the that manufacturing output expanded in August but the growth rate remains below historical averages.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.