China's manufacturing PMI contracts 49.1 in August; Caixin manufacturing PMI returns to modest growth

seekingalpha09-02

According to official data, NBS Manufacturing PMI in China fell to 49.1 in August 2024, from 49.4 in July, missing market expectations of 49.5 and marking the steepest contraction since February, ...

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Meanwhile, the services PMI edged higher to 50.3 from July's eight-month low of 50.2 exceeding forecasts of 50 and marking the 20th consecutive month of growth in the sector.   Separately, the Caixin China General Manufacturing PMI rose to 50.4 in August 2024 from 49.8 in July, above market forecasts of 50.0 as new orders returned to growth, driving faster production expansion amid better underlying demand conditions, and suggesting that smaller, privately-owned firms are recovering more steadily. The Shanghai Composite fell 0.6% to below 2,830 on Monday, giving back gains from the previous session as investors reacted to the latest business activity reports in China. ETFs: (FXI), (KWEB), (CQQQ), (MCHI), (ASHR), (YINN), (TDF), (CHIQ), (GXC), (EWH), (KBA), (YANG), (CXSE), (CAF), (CWEB), (PGJ), (KURE). 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