Analysts at Danske Bank note that the Chinese Caixin PMI manufacturing fell to 50.6 in August, the weakest since June 2017 with the new orders sub-index at the lowest level since May 2017.
Key Quotes
“Exports have been below 50 for five consecutive months. While it is not surprising the economy is slowing, it is probably slowing at a faster pace than the Chinese government likes now that also trade uncertainties are weighing on the economy. This is also the reason why it has stepped in with easier monetary and fiscal policy. We expect a soft landing.”
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