Chinese Official Factory PMI For August Impressed Investors

Forex News

China’s official PMI surprised market with improvement in August, rising from 51.2 to 51.3. The indicator has been dropping for two months prior but now it shows that economic activity is strong despite trade tension with the U.S.

Reuters projection suggested decline to the half a year-minimum of 51.0 as China’s economy has been already easing due to growing financing costs and slowing investment.