China’s official Manufacturing Purchasing Managers’ Index (PMI) rose further to 49.7 in August, compared with the 49.3 contraction in July, the latest data published by the country’s National Bureau of Statistics (NBS) showed on Thursday. The market expectation was for a 49.4 figure.
The index remained below the 50 mark, which separates expansion from contraction, for a fifth straight month.
The NBS Services PMI fell to 51.0 in August versus the expected 51.1 figure and 51.5 previous.
AUD/USD reaction
The mixed readings of the Chinese PMIs fail to deter the Aussie Dollar buyers, with AUD/USD extending gains to recapture 0.6500. The spot is trading at 0.6504, at the time of writing, up 0.44% on the day.
Source: https://www.fxstreet.com/news/chinas-nbs-manufacturing-pmi-improves-to-497-in-august-vs-494-expected-202308310131