China’s manufacturing PMI registered 49.1 in August, from 49.4 in July, demonstrating the economy faces increasing downward pressure, according to Zhang Liqun, a special analyst at the China Federation of Logistics and Purchasing (CFLP). Authorities should enhance countercyclical policy support and increase government investment to drive up corporate orders, Zhang noted. Cai Jin, vice president at the CFLP said non-manufacturing PMI registered 50.3, with the business activity expectation sub-index above 55%, showing enterprises were optimistic about services.
CHINA PRESS: China PMI Shows Stronger Policy Support Needed
Last updated at:Sep-02 01:46By: Lewis Porylo
China
China’s manufacturing PMI registered 49.1 in August, from 49.4 in July, demonstrating the economy faces increasing downward pressure, according to Zhang Liqun, a special analyst at the China Federation of Logistics and Purchasing (CFLP). Authorities should enhance countercyclical policy support and increase government investment to drive up corporate orders, Zhang noted. Cai Jin, vice president at the CFLP said non-manufacturing PMI registered 50.3, with the business activity expectation sub-index above 55%, showing enterprises were optimistic about services.
