Categories: Uncategorized

China composite PMI drops to 53 in August, says S&P Global/Caixin

China’s composite purchasing managers’ index (PMI) slipped from 54.0 in July to 53.0 in August, according to a survey released by S&P Global and Caixin Media.

The index was above the 50 mark, which separates expansion from contraction. Released in the same survey, the services PMI dropped from 55.5 in July to 55.0 in August.

For Wang Zhe, an economist at Caixin, rare high temperatures and sporadic outbreaks of covid-19 were the main factors that weighed on the economy in August.

“The impact of extreme weather was more significant than that of outbreaks. The resulting power outages restricted manufacturing to production, while service providers remained largely unchanged. The manufacturing sector benefited more from lower expenses as a result of the fall in commodity prices than the services sector,” he says.

Source: CNN Brasil

Published by

Recent Posts

US Dollar Index Price Analysis: Remains Ranged

The DXY recovers part of the losses registered on Thursday. Good support is found in…

3 mins ago

USD/CAD Price Analysis: Clings to Recovery Gains Around 1.3550

USD/CAD makes a nice bounce from a multi-week low amid a rebound in demand for…

11 mins ago

SOS from the UN on the war in Ukraine: “It is taking humanity away from the fight for survival”

His concern for him war in Ukraine expresses once again the UN. Through his head…

21 mins ago

New fiscal rule is received with relief, concern and euphoria by the market

With relief, concern and a good dose of euphoria, the new fiscal rule was received…

39 mins ago

FTX Europe has opened a site for the return of funds to users

Registered CuSEC FTX Europe launched dedicated website, the functionality of which allows the European clients…

48 mins ago

EUR/JPY Price Analysis: The next bullish level is 146.70

EUR/JPY extends move higher and marks fresh 2023 highs. The December 2022 high near 146.70…

57 mins ago