China S&P Global Manufacturing PMI (August) 50.5 (expected 49.5, prior 49.5)
China S&P Global Manufacturing PMI (August 2025) comes in way above expected and a big jump from July at 50.5
- expected 49.5, prior 49.5
The fastest growth in five months:
The expansion beat expectations (49.7) and contrasted with the official PMI, which showed contraction.
Supply and demand showed significant improvement.
Continued postponement of tariffs at the end of July helped slow the pace of contraction in new export business
Overall new orders grew at the quickest pace since March, but export orders shrank for a fifth straight month.
Rising demand led to the fastest build-up of backlogged work in six months.
Employment fell for a fifth consecutive month as firms stayed cautious despite capacity pressures.
Input costs climbed at the steepest pace since Nov 2024, though selling prices stayed flat due to competition.
Business confidence improved, reaching its highest since March, but economists warn tariffs, frontloaded exports, and the property slump could weigh on momentum.
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This was formerly known as the Caixin PMI, now its sponsored by 'Rating Dog'.
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Over the weekend:
- China Manufacturing PMI (August 2025) 49.4 (expected 49.5) Services 50.3 (expected 50.3)
- ICYMI - China data showed manufacturing sector contracted for a fifth straight month
- China property sales drop 17.6% in August, housing slump hits sixth straight month