China’s official PMI eases


China’s official PMI for August is out at 51.1 versus 51.2 expected. Last month was 51.7 so it confirms the second derivative downshift shift in Chinese manufacturing growth seen in the Flash.  The slowing was broad based with production, new orders and input prices all down.

Not that it matters terribly for Australia. Despite the market focus, the non-manufacturing PMI is the more important given it covers construction.