China Flash Caixin manufacturing PMI for August
- expected is 48.2
- prior was 47.8 (a 2 year low)
A terrible result .... lowest in about 6 or so years ... 77 months says Markit....
AUD lower, despite having fallen ahead of the data release also
Commenting on the Flash China General Manufacturing PMI™ data, Dr. He Fan, Chief Economist at Caixin Insight Group said:
- "The Caixin Flash China General Manufacturing PMI for August has fallen further from July's two-year low, indicating that the economy is still in the process of bottoming out.
- But overall, the likelihood of a systemic risk remains under control and the structure of the economy is still improving.
- There is still pressure on the front of maintaining growth rates, and to realize the goal set for this year the government needs to fine tune fiscal and monetary policies to ensure macroeconomic stability and speed up the structural reform.
- This will lead the market to confidence and renew the vigour of the economy."
Which leaves me asking, where's Amy? (And, what is with the optimistic commentary???)
Anwyay ... more:
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