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21 Aug 2015
China's Caixin PMI at shocking 6 1/2 yr low
FXStreet (Bali) - China's Caixin Flash Manufacturing PMI came in at 47.1 vs 48.2 exp and 47.8 last, which translates in its lowest level in 6 years and a half.
Commenting on the Flash China General Manufacturing PMI™ data, Dr. He Fan, Chief Economist at Caixin Insight Group said:
“The Caixin Flash China General Manufacturing PMI for August has fallen further from July’s two-year low, indicating that the economy is still in the process of bottoming out."
"But overall, the likelihood of a systemic risk remains under control and the structure of the economy is still improving."
"There is still pressure on the front of maintaining growth rates, and to realize the goal set for this year the government needs to fine tune fiscal and monetary policies to ensure macroeconomic stability and speed up the structural reform."
"This will lead the market to confidence and renew the vigour of the economy.”
Commenting on the Flash China General Manufacturing PMI™ data, Dr. He Fan, Chief Economist at Caixin Insight Group said:
“The Caixin Flash China General Manufacturing PMI for August has fallen further from July’s two-year low, indicating that the economy is still in the process of bottoming out."
"But overall, the likelihood of a systemic risk remains under control and the structure of the economy is still improving."
"There is still pressure on the front of maintaining growth rates, and to realize the goal set for this year the government needs to fine tune fiscal and monetary policies to ensure macroeconomic stability and speed up the structural reform."
"This will lead the market to confidence and renew the vigour of the economy.”