China's manufacturing activity contracts in August

Economy

The official Chinese Manufacturing Purchasing Managers' Index (PMI) for August fell by 0.3 m-o-m to 49.7 (a reading below 50 indicates a contraction in activity), according to the country's National Bureau of Statistics. This is the lowest level since August 2012. The Caixin China General Manufacturing PMI slipped to a more than six-year low of 47.3. This was slightly improved from a preliminary estimate of 47.1.