China's Manufacturing PMI Contracts as Caixin PMI Recovers
China's Manufacturing PMI Contracts in August
According to official data, China's NBS Manufacturing PMI fell to 49.1 in August 2024, down from 49.4 in July. This drop marks the steepest contraction since February, missing market expectations of 49.5. The decline indicates ongoing pressures in the manufacturing sector, driven by declining demand and production activities.
Caixin PMI Indicates Modest Growth
In contrast, the Caixin PMI reported a return to modest growth, suggesting some resilience within the manufacturing segment despite the overall contraction. Analysts remain cautious but optimistic as they assess potential recovery indicators in the upcoming months.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.