“The HSBC Flash Purchasing Managers’ Index for August crashed, falling to 47.8, well under the final July reading of 49.3. The dismal result, the first indication of China’s economy for this month, was far below 50, which divides expansion from contraction. The final PMI will be released September 3, but it is now clear that August will be the 10th-straight month of decline for the vitally important manufacturing sector in China.”
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