Highlights
- The China Caixin Manufacturing PMI surprises to the upside, rising to 51.0 in August.
- Despite the upbeat headline number, overseas demand continued to wane.
- The US Jobs Report is up next.
China Caixin Manufacturing PMI Impresses
The Caixin Manufacturing PMI increased from 49.2 to 51.0 in August. Economists forecast the PMI to rise to 49.3.
According to the August survey,
- Market conditions supported an increase in new domestic orders.
- However, new orders from overseas continued to fall, albeit at a less marked pace.
- The upswing in new orders led to a pickup in production, though firms remained…
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