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News Link • China

Chinese Manufacturing Drops To A Nine Month Low

•, Eric Platt
 The official reading of manufacturing output in China unexpectedly contracted for the first time in nine months, new data from the National Bureau of Statistics and China Federation of Logistics and Purchasing shows.

PMI declined to 49.2 in August from a reading of 50.1 a month earlier. A report below 50 indicates deterioration.

Economists polled by Thomson Reuters had forecast a neutral reading of 50 during the month.

Weakness in new orders pulled the headline index lower, with the sub-index falling to 48.7. Total output also declined, down to 50.9, but remained in positive territory.

Export demand remained roughly unchanged during the month, at 46.6.

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