Chinese manufacturing activity deteriorated in August, new
data showed, with some analysts wondering whether Beijing was dropping the ball
in delaying the rollout of policies to counter the slump, according to
marketwatch. HSBC’s China manufacturing
Purchasing Mangers’ Index (PMI), released Monday, offering up its bleakest
reading since March 2009, following on the heels of an official PMI Saturday
which also showed conditions worsening.
HSBC’s PMI fell to 47.6 in August on a 100-point scale, down
from July’s 49.3, marking the 10th straight month-on-month deterioration. The final result also marked a downward
revision from an initial 47.8 reading, and was down sharply from July’s 49.3
level….
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