Caixin’s China Manufacturing PMI Hit Over Nine-Year High in August
Dou Shicong
DATE:  Sep 01 2020
/ SOURCE:  Yicai
Caixin’s China Manufacturing PMI Hit Over Nine-Year High in August Caixin’s China Manufacturing PMI Hit Over Nine-Year High in August

(Yicai Global) Sept. 1 -- One of the two main gauges of factory activity in China stayed in expansion territory for a fourth straight month in August, rising to the highest level since February 2011, as the country’s economic recovery gathers pace.

The Caixin purchasing managers' index for manufacturing edged up 0.3 point to 53.1 last month from July, according to the benchmark that financial media outlet Caixin published today. A reading above 50 signals expansion.

Manufacturers in the world’s second-largest economy are firing up production as domestic and international demand recovers from the effects of the coronavirus pandemic.

The upturn continued last month, Wang Zhe, a senior economist at Caixin Insight Group, said in a commentary released along with the figures. Overseas demand also began to tick upward, he added.

The Caixin PMI, also known as the Caixin-Markit PMI, surveys 500 businesses that are typically smaller and privately owned.

The official manufacturing PMI, released by the National Bureau of Statistics yesterday, fell 0.1 point to 51 for the same month. It tracks mostly large and state-backed companies.

Editor: Emmi Laine

Follow Yicai Global on
Keywords:   Caixin Manufacturing PMI