China's August Services PMI at 51.8... Below Expectations
The Caixin Services Purchasing Managers' Index (PMI), which reflects China's perceived economic conditions, worsened further in August.
Hot Picks Today
"Samsung Electronics Employee with 100 Million Won Salary Receiving 600 Million Won Bonus... Estimated Tax Revealed"
- "Only Two Per Person" Garbage Bag Crisis Was Just Yesterday... Japan Also Faces Shortage Anxiety
- Lived as Family for Over 30 Years... Daughter-in-Law Cast Aside After Husband's Death
- Despite ‘Tank Day’ Controversy, Gwangju Schools Purchased Starbucks Gift Certificates
- "Wore It Once, Then This? White Spots All Over 4.15 Million Won Prada Jacket... 'Full Refund Ordered'"
On the 5th, China's economic media outlet Caixin reported that the August services PMI, surveyed jointly with credit rating agency Standard & Poor's (S&P), recorded 51.8. This figure not only deteriorated compared to the previous month (54.1) but also fell significantly short of experts' forecast (53.6).
The PMI is based on surveys of purchasing and HR managers in companies. If more respondents report improved business conditions than the previous month, the index rises above 50, indicating economic expansion; if fewer, it falls below 50, indicating economic contraction.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
