China HSBC Manufacturing PMI data declined to 47.8 for August vs 49.3 in July. The data shows that the economy is experiencing slowdown with lower factory orders. In short, some additional stimulus or govt. policy action would be needed to prop up demand. A pile up in inventory data was seen, suggesting that lack of orders have lowered sales.
The PMI data for China has been below 50 for the last 10 months, which is a sign of concern for the investors. (CNBC)
Categories: General News