China Official Manufacturing PMI Misses Expectations

China’s official manufacturing PMI for August came in a bit light at 51.1.

The latest release from China’s National Bureau of Statistics came in just below expectations, which were for a reading of 51.2.

August’s reading is down from 51.7 in July, which marked a 27-month high for the index, according to Barclays.

A reading above 50 indicates expansion in the economy, while a reading under 50 would indicate contraction.

Nomura’s Aman Mohunta expected the report to come in a 51.0, writing that, “Despite targeted policy easing it seems that [China’s economy] has recently lost some growth momentum, as the property market correction continues.”

At 9:45 pm ET, we’ll also get HSBC’s final manufacturing PMI, which is expected to come in at 50.3, unchanged from the flash number reported earlier this month.

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