China Aug official PMI slips to 6-month low, Caixin PMI rises to 50.4

SINGAPORE (ICIS)–China’s August official manufacturing purchasing manager index (PMI) dropped to a six-month low of 49.1, while a private survey by Caixin gives an expansion print of 50.4 from 49.8 in July.

The official PMI published by the National Bureau of Statistics (NBS) had been in contraction territory for four consecutive months, pointing to persisting weakness in factory activity.

The sub production index fell to 49.8 in August from 50.1 in July, while new order index declined to 48.9 in August from 49.3 in the previous month, NBS said.

High temperatures, intensive rain and seasonal lull in combine dragged the PMI figures, according to NBS.

For Caixin, the private firm said there was a slight uptick in production index and strong rebounding in new order index, which is mainly driven by improving basic demands and all types of promotions.