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MNI DATA BRIEF: China Aug PMI Slows; Non-Mfg Falls Below 50

MNI (Singapore)
SINGAPORE (MNI)

The China Purchasing Managers' Index (PMI) edged down to 50.1 in August from 50.4 in July, though it stayed above the breakeven expansion level of 50.0 for the 18th-straight month, data from the National Bureau of Statistics on Tuesday showed.

Market demand weakened as the new order sub-index fell sharply by 1.3 percentage points into the contraction territory reading at 49.6. New export orders also slid 1 pps to 46.7. While manufacturing production remained steady with the production sub-index falling slightly by 0.1 pp to 50.9.

The non-manufacturing service gauge sharply declined to 47.5 from 53.3 in July, falling into the contraction zone first time since March 2020, as the resurgence of Covid-19 cases dampened the service industry. The business activity sub-index of transportation, accommodation and catering all fell below 50 as business volume reduced significantly, the NBS said.

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