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These Chinese PMIs come from the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).
For August 2025:
Manufacturing PMI 49.4, a slight miss
- expected 49.5, prior 49.3
- this is the fifth consecutive month in contraction for the official manufacturing PMI
- domestic demand remains disappointing
Non-Manufacturing PMI 50.3, in line with central estimates and a jump from July
- expected 50.3, prior 50.1
Composite 50.5
Over the next few days we’ll get the ‘unofficial’ Caixin/S&P manufacturing (on Monday September 1) and non-manufacturing (on Wednesday September 3) PMIs for August.
more to come
—
Earlier big news:
The legal fight is not over (see the post) but perhaps China will just wait it out on tariffs.
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