Chinese PMIs were out over the weekend and did little to inspire:. The manufacturing PMI remains in contraction:
In August 2019 , the China Manufacturing Purchasing Managers Index ( PMI ) was 49.5% , a slight decrease of 0.2 percentage points from the previous month .
In terms of enterprise scale, the PMI of large enterprises is 50.4% , which is 0.3 percentage points lower than that of the previous month , and is still in the expansion range; the medium-sized enterprise PMI is 48.2% , which is 0.5 percentage points lower than the previous month and is below the critical point; the small enterprise PMI is 48.6% , up 0.4 percentage points from the previous month , below the critical point.
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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.
