China's Caixin PMI Aug prints at 50.00, slightly below expectations

China's Caixin PMI for the month of August came at 50.00 vs 50.1 expected and 50.6 last.

Commenting on the China General Manufacturing PMI™ data, Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group said: “The Caixin China General Manufacturing PMI for August slipped to 50.0, after a short-lived uptick in July."

Dr. Zhong added: "The index readings for output, new orders and stocks of purchases all declined from the previous month, with the index for inventories of purchases falling back to the territory of contraction. The stagnation that follows tentative signs of recovery in July may have been caused by a temporary tightening of proactive fiscal policies. Downward pressure on China’s economy remains and government support to stabilize growth must continue.”