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The seasonally adjusted purchasing managers index (PMI) for China's manufacturing sector rose to a five-month high of 50.4 in August, higher than the median forecast of 49.8 in the Reuters poll and 49.9 last month, Caixin/Markit announced on Monday.
The index of new export orders fell for three consecutive months and fell to its lowest level since November 2018.
China's official Manufacturing Purchasing Managers Index (PMI), a leading macroeconomic indicator released on Saturday, fell to 49.5 in August, below the median forecast of 49.7 in a Reuters survey and 49.7 last month. After a short rebound in July, the official manufacturing PMI again fell faster than expected in August, which may be related to typhoon shocks on production activities. However, both new orders and import index declined, indicating that weak domestic and foreign demand was the main drag factor. Manufacturing PMI has been running below the line of prosperity and decline for four consecutive months, with obvious downward pressure on the economy.
The Financial Stability and Development Committee of the State Council of China held a meeting recently, calling for greater counter-cyclical adjustment of macroeconomic policies and greater efforts to dredge monetary policy transmission. We will continue to implement sound monetary policy, maintain reasonable liquidity and reasonable growth of social financing scale. Active fiscal policies should be implemented to better integrate fiscal policies with monetary and financial policies.
At the end of June 2015, China Caixin Media announced that it had acquired the title right of PMI compiled by Markit Company in China. Caixin China PMI was officially released in August of that year. After renaming, the statistical method of PMI remained unchanged. PMI above 50 indicates expansion and below 50 indicates atrophy.

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