China’s August Manufacturing PMI Shows Slower Contraction, Non-Manufacturing Steady
| Pair | Now | Since publish |
|---|---|---|
| AUDUSD | — | — |
- China August Manufacturing PMI rose to 49.8, beating 49.5 expectations.
- Manufacturing PMI still below 50 in August, indicating contraction.
- Non-Manufacturing PMI steady at 49.0, services/construction not stabilizing.
China’s National Bureau of Statistics (NBS) announced on Monday that the nation’s Manufacturing Purchasing Managers’ Index (PMI) for August rose to 49.8. This figure represents an improvement from July’s 49.2 and exceeded the market consensus of 49.7, although it remains below the 50-point threshold that separates expansion from contraction. Concurrently, the NBS Non-Manufacturing PMI held steady at 49.0 in August, matching the previous month’s reading and also indicating continued contraction in the services sector. Despite the slight improvement in manufacturing activity, the data had minimal impact on the Australian Dollar (AUD), often viewed as a proxy for China’s economic health, with the AUD/USD pair trading marginally lower by 0.04% at 0.7162 at the time of reporting.
China’s manufacturing Purchasing Managers’ Index (PMI) for August rose to 49.8, an increase from 49.2 in July, and surpassed market expectations of 49.5. Meanwhile, the non-manufacturing PMI held steady at 49.0, indicating that services and construction activity have not yet shown signs of stabilization.