China Economy

China Flash PMI misses again

David Llewellyn-Smith
Wednesday 23 September 2015
Advertisement

The Caixin Flash PMI is out at 47 versus 47.5 expected and 47.3 last month. Dr. He Fan, Chief Economist at Caixin Insight Group said:

  • “The Caixin Flash China General Manufacturing PMI for September is 47.0, down from 47.3 in August.
  • The decline indicates the nation’s manufacturing industry has reached a crucial stage in the structural transformation process.
  • Overall, the fundamentals are good.
  • The principle reason for the weakening of manufacturing is tied to previous changes in factors related to external demand and prices.
  • Fiscal expenditures surged in August, pointing to stronger government efforts on the fiscal policy front.
  • Patience may be needed for policies designed to promote stabilization to demonstrate their effectiveness.”
Twitter Share
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.