China August Manufacturing PMI 49.7 (vs. expected 49.2)

<p>China August Manufacturing PMI 49.7, beating the estimate and still in contraction </p><ul><li>vs. expected 49.2, prior 49.3</li><li>fifth consecutive month in contraction for factory activity, but edging towards an expansionary reading. Maybe in September?</li></ul><p>Non-Manufacturing 51.0, missing its estimate and in expansion</p><ul><li>expected 51.2, prior 51.5</li></ul><p>The combined PMI, the 'Composite' is 51.3</p><p>Statements from the National Bureau of Statistics (NBS):</p><ul><li>Improvements in manufacturing activity in China continued in August.
</li><li>New Order Index is up 0.7 from July to 50.2%, back to the expansion zone as stable production and market demand improved.
</li><li>Small business activity has improved.
</li><li>The large enterprise PMI rises to 50.8%, providing significant support to the overall manufacturing industry.
</li><li>The medium-sized enterprise PMI +0.6 pps to 49.6%, and the small enterprise PMI +0.3 pps to 47.7%
</li><li>The production and operation activity expectation index +0.5 pps to 55.6%, enterprise confidence has been strengthened</li><li>
The production and operation activity expectation index of the consumer goods industry has been above 55.0% since the beginning of the year.</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.