China Manufacturing PMI’s Edge Up In August
(For August 2010)
Official China PMI rose from 51.5 to 51.7; The HSBC/Markit PMI rose from 49.4 to 51.9. Reading bellow 50 means contraction. Equity markets cheerful on that despite absolute level flirting with contraction.
Chart 1. China Federation of Logistics & Purchasing and National Bureau of Statistics PMI / HSBC Markit China Manufacturing PMI