The manufacturing sector in China posted an expansion according to data from the National Bureau of Statistics. The official PMI was recorded at 50.4, beating forecasts of 49.9, which was the same reading seen in July. With the official PMI rising above 50, the index marks an expansion in the sector. Data also showed that non-manufacturing PMI was recorded at 53.5 which lower than 53.9 in July. However, Caixin manufacturing PMI showed different results as the PMI for August was seen at 50.0. Economists were expecting to see an increase to 50.1. In July, Caixin manufacturing PMI was at 50.6. Caixin's PMI report showed that production and new orders advanced at a slower than expected rates while export sales declines.
Investors look to August payrolls report
Daily Analysis - 02/09/2016