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CHINA: Chinese PMI data, released over the weekend, exhibited tentative signs
that the effects of the trade war with the U.S. are starting to bite. The
services sector outperformed, while the m'fing sector slowed.
- Sep's deceleration in the official manufacturing PMI came after a modest
rebound in Aug. The Sep reading was the slowest since Feb, due in part to the
slowing of the econ & increased trade frictions with the U.S. The production
index's growth moderated, the new orders index decelerated, while new export
- Caixin's manufacturing PMI noted that "generally speaking, expansion across
the manufacturing sector weakened in September, as exports increasingly dragged
down performance and continued softening demand began to have an impact on
companies' production. In addition, the employment situation worsened further.
Downward pressure on China's economy was significant."