Chinese services PMI falls to 8-month low – Kommersant
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PMI of China in the service sector, estimated Caixinin August amounted to 51.8 points, which is 2.3 percentage points lower than in July, and is also the lowest figure since the beginning of this year.
Earlier, Caixin published data on business activity in the manufacturing sector. In August, PMI in this sector rose by 1.8 percentage points, which partially offset the decline in the index of business activity in the services sector. However, the August Composite PMI eventually fell slightly, by 0.2 percentage points to 51.7, which was the lowest PMI level since February.
Caixin data is slightly different from the official statistics, but the overall trend is the same. Thus, according to the National Bureau of Statistics of China, manufacturing PMI in August recovered by 0.4 percentage points, to 49.7 points, while the index of business activity in the service sector fell by 1.0 percentage points, to 50.5 points, hitting a one-year low. The overall PMI, according to official data, recovered by 0.2 percentage points to 51.3 points.
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