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3 Aug 2015
China's Caixin PMI suffers sharpest deterioration in 2 years
FXStreet (Bali) - The latest Caixin China General Manufacturing PMI (final) has confirmed a two-year low, with the final reading at 47.8 vs 48.2 preliminary.
Summary
July data signalled that the downturn in China’s manufacturing sector intensified at the start of the third quarter."
"Renewed falls in both total new work and new export orders led manufacturers to cut production at the fastest rate since November 2011."
"Softer client demand and reduced output requirements contributed to further job shedding and lower purchasing activity, with the latter declining at the sharpest rate since January 2012."
"Meanwhile, deflationary pressures persisted, with both input costs and output charges declining in July and at faster rates than in the previous month."
Summary
July data signalled that the downturn in China’s manufacturing sector intensified at the start of the third quarter."
"Renewed falls in both total new work and new export orders led manufacturers to cut production at the fastest rate since November 2011."
"Softer client demand and reduced output requirements contributed to further job shedding and lower purchasing activity, with the latter declining at the sharpest rate since January 2012."
"Meanwhile, deflationary pressures persisted, with both input costs and output charges declining in July and at faster rates than in the previous month."